Poland proposes law that could cripple cryptocurrency companies

• Bill threatens crypto startups in Poland
• Costs and requirements may force companies to leave the country
• President-elect vows to veto regulations deemed abusive

Polish authorities are moving forward with drafting a bill aimed at regulating the cryptocurrency market, following the guidelines of the European Union’s MiCA package. The proposal, however, has provoked strong backlash from local businesses and experts, who see the national government’s additional terms as a direct threat to the sector’s survival in the country.

The bill approved by the Warsaw government was drafted by the Ministry of Finance and assigns the Polish Financial Supervision Authority (KNF) responsibility for overseeing the sector. If the legislation comes into force, platforms such as exchanges and token issuers will be required to provide detailed reports on their operations.

In addition, the KNF could impose fines exceeding 22 million zlotys per year — about $6 million — amounts considered more stringent than those applied to the banking system, according to experts at the FinTech Poland Foundation.

Another critical point is the cost and complexity for new companies to obtain licenses as cryptocurrency service providers (CASP). The initial cost is estimated at half a million zlotys, in addition to monthly expenses of between 30 and 40 thousand zlotys and documentation that can exceed XNUMX pages. The approval process can take up to two years, according to economist Krzysztof Piech.

“Everyone will try to obtain a license abroad. Polish law may end up not covering any new entities,” the professor said in an interview with the Gazeta Wyborcza newspaper.

🟦 Zauważam, że coraz więcej osób i firm inwestuje w kryptowaluty. Jaki jest mój stosunek do tego? W Polsce muszą powstawać innowacje, a nie regulacje. Jako Prezydent RP, będę gwarantem, że nie wejdą w życie zamordystyczne przepisy, które ograniczą Waszą wolność. #Nawrocki2025 pic.twitter.com/pHoJ03Gg3K

— #Nawrocki2025 (@Nawrocki25) May 28, 2025

Despite the expectation of approval by the Sejm and Senate, Poland's president-elect, Karol Nawrocki, has already expressed his opposition to the proposal. In his public statements, he described the project as a measure that stifles innovation.

“In Poland, we need to create innovations, not regulations,” he said. Nawrocki reiterated that as president he will not allow the application of laws that limit the economic freedom of the cryptocurrency sector in the country.