Poland is preparing to tighten crypto market regulation.
Date: 2025-09-30 Author: Henry Casey Categories: BUSINESS
The Polish Sejm has adopted the draft "Cryptoasset Market Act" and sent it to the Senate for consideration. 230 members of parliament voted in favor of the document, while 196 voted against.
The bill establishes the Financial Supervision Commission (KNF) as the primary regulator of the cryptosphere. All cryptoasset service providers (CASPs) will be required to obtain licensing in accordance with the European MiCA regulation.
To obtain a license, companies must disclose their ownership structure, confirm sufficient capital, and provide information on internal control systems, risk management, and anti-money laundering measures. Violators face criminal penalties of up to two years in prison, as well as fines of up to 10 million zlotys (approximately $2.74 million).
If the law is finally passed, CASP will have six months to comply with the new regulations.
Opponents of the document consider it overly strict. Janusz Kowalski, a member of parliament from the opposition Law and Justice party, stated that the 118-page text poses a threat to three million Polish investors. He noted that similar regulations in other EU countries are significantly shorter—from one page in Cyprus to 78 in Germany. Kowalski expressed hope for a veto from President Karol Nawrocki and promised to propose an alternative, more "rational" version of MiCA implementation in October.
Politician Tomasz Mentzen also voiced criticism. He emphasized that the KNF is extremely slow—the average application review time, according to him, is approximately 30 months, making it "the most ineffective regulator in the EU." Mentzen also called on the president to block the bill and create a system of regulations that will not hinder, but rather develop the crypto market.
Interestingly, his brother, Sławomir Mentzen, who ran in the presidential election, had previously promised to create a national Bitcoin reserve if he won.
Thus, Poland is on the brink of major changes in crypto industry regulation, and the future of the bill will depend on the president's position.
