Open a Cryptocurrency Company in Poland

The cryptocurrency market in Poland is developing dynamically despite the lack of national regulations issued based on the MiCA regulation, and with it grows the interest in acquisitions of companies holding an entry in the registry of virtual asset service providers (VASP). Purchasing such a company can significantly accelerate market entry, but requires conducting comprehensive due diligence. In light of the upcoming full implementation of the MiCA regulation in 2025, the verification process takes on particular significance and requires a much more in-depth approach.

The crypto-asset market remained largely unregulated at Community level for many years. This caused the financial market supervisory authorities of individual Member States to look for analogies in the existing legislation on their own. Unfortunately, this meant that many mechanisms escaped the legislature’s cognisance. Regulation 2023/1114 of the European Parliament and of the Council on cryptocurrency markets has changed a lot in this regard. What does the entry into force of the MiCA (Markets in Crypto-assets) Regulation entail?

Poland is one of the friendliest places in Europe to run a company operating in the field of digital currencies. Firstly, this activity is not regulated as far as its substantive part is concerned. You will not find regulations on the types of digital assets (e.g. tokens or NFT) or business models in Web 3 (e.g. DeFi) in Poland. Secondly, the Polish Financial Supervision Authority itself indicates that so far the activities of companies in the field of cryptocurrencies are outside the control of financial supervision.