Polish Government Approves Virtual Assets Law

Polish Government Approves Virtual Assets Law

The Polish government has approved a new law on virtual assets, introducing significant changes to how businesses in this sector must operate. The legislation, which incorporates the EU’s MiCA framework into Polish law, includes additional national provisions that impose stricter regulation, expanded state oversight, and severe penalties for non-compliance.

Under the new rules, all Virtual Asset Service Providers (VASPs) will be required to obtain a license. The Polish Financial Supervision Authority (KNF) will be responsible for licensing and oversight, with enhanced powers to authorize or suspend operations, block websites, and impose multimillion-zloty fines.

The law also mandates the separation of company funds from client assets. Failure to comply may result in financial penalties of up to 10 million PLN (approx. $2.7 million USD) and prison terms of up to two years. Offenses may include operating without a license, issuing tokens without approval, non-compliance with reporting obligations, and other regulatory breaches.

The Polish business community has reacted to the law with mixed views. Supporters argue that the legislation will bring order to the virtual asset market, improve investor protection, and align national practices with EU standards. However, critics warn that excessive regulation could push small and mid-sized enterprises out of the market, leaving only well-funded players with the legal and financial capacity to comply.

The bill is now set to be reviewed by the Senate, after which it will require presidential approval. Once enacted, Polish businesses will need to adapt quickly to the new regulatory landscape.

FINANCEIQ HUB LTD: Supporting Your Business in a Changing Regulatory Environment

If your business is already operating in Poland or plans to enter the market, FINANCEIQ HUB LTD offers full support to help you operate legally under the new framework.

We assist with:

• Assessing your company’s compliance with Poland’s new regulatory requirements;
• Preparing your company to obtain MiCA authorization;
• Aligning your internal processes with MiCA standards;
• Opening bank accounts in Europe for companies working with virtual assets.

For businesses seeking more flexible conditions or an alternative to complex EU regulations, we also offer tailored solutions in other jurisdictions:

• MSB license in Canada – an effective option for international operations;
• MSB in the USA – direct access to one of the world’s most powerful financial markets;
• Other jurisdictions with more business-friendly regulatory environments.

Contact FINANCEIQ HUB LTD for more.