On July 1, 2026, the transitional period stipulated in Article 143(3) of the MiCA Regulation expired. From that date, providing crypto-asset services in the European Union—operating exchanges, storing client assets, or brokering trades—without a CASP (Crypto-Asset Service Provider) authorization is illegal. For entities that have not obtained authorization, this means an immediate change in their operations. Polish providers find themselves in a particularly difficult situation compared to the rest of the EU. Although MiCA is directly applicable in Poland, the national implementing act that would designate a supervisory authority and initiate the licensing procedure has not entered into force. As a result, obtaining a CASP authorization in Poland is impossible.
Why is it impossible to obtain a CASP license in Poland today?
Before we discuss possible paths, it's worth understanding the root of the problem. In order to initiate the CASP licensing process in Poland, a national law was necessary to provide the Polish Financial Supervision Authority with the appropriate powers and specify the procedure. Due to the prolonged legislative stalemate and subsequent vetoes of the Cryptoasset Market Act, the act never came into force. No national authority, including the Polish Financial Supervision Authority, has been designated as responsible for overseeing MiCA-covered activities (with the exception of issuers of e-money tokens), and the Commission has no basis to accept license applications.
The current entry in the register of virtual currency businesses is also ineffective. The Director of the Tax Administration Chamber in Katowice explicitly stated that such an entry does not constitute a permit within the meaning of MiCA and, after July 1st, does not authorize the conduct of business – neither in Poland nor abroad. Therefore, the model based solely on the national register is no longer a sufficient basis for operation.
Action paths for Polish suppliers
Authorization in another EU country and passporting services to Poland: this is currently the main route to continuing to legally serve Polish customers. Under the passporting mechanism (Article 65 of MiCA), a provider authorized in one Member State under Article 63 can provide services throughout the EU, including Poland, without a separate national authorization. However, selecting a jurisdiction, establishing or relocating an appropriate structure there, and meeting capital and organizational requirements is an ongoing process that requires advance planning.
Collaboration with a licensed CASP: Another solution is to base operations on the infrastructure and authorization of an already authorized entity, with the Polish company playing a supporting role. However, this path must be carefully constructed – MiCA prohibits the entrustment (outsourcing or delegation) of certain services, particularly crypto-asset storage, to entities without CASP status. Therefore, the cooperation model must be designed so that the licensed provider actually provides the regulated service, and not merely serves as an "umbrella" for unauthorized activity.
Orderly wind-down: For entities that have not yet obtained authorization and are not pursuing these options, the only option is to close their business in accordance with ESMA's expectations. This means immediately suspending new client acquisition and marketing, limiting services to the sale, transfer, or closing of positions, and providing clear, repeated communication with clients. Clients should be offered either a refund or a transfer of assets to the licensed entity, along with an indication of the deadline after which the remaining positions will be automatically closed. Entities that suspend their business can also wait for the law to come into force and the implementation of the licensing system in Poland.
What to remember regardless of the path you choose
Each of the above scenarios shares several common obligations. Full AML/CFT procedures and travel transparency obligations must be maintained at all times, including during the phase-out period. When migrating clients, the acquiring, licensed CASP must conduct its own onboarding and verification. It's also worth remembering that non-EU entities cannot provide MiCA-covered services to EU clients or solicit them, with the narrow exception of reverse solicitation.
A proper understanding of the risks is also crucial. The lack of a designated supervisory authority in Poland means that there is currently no one in Poland to impose the sanctions provided for in MiCA – however, this is a loophole, not a green light. Operating without a license remains a violation of EU law, and other member states are already enforcing the new regulations (for example, the French AMF has announced fines, imprisonment, and website blocking), and the adoption of the Polish law is only a matter of time – the vetoed bills envisaged penalties of up to PLN 20 million or imprisonment for up to eight years for providing services without a license. Furthermore, there are practical consequences of operating in a regulatory gray zone: difficult access to bank accounts, the risk of geo-blocking, and a loss of customer trust.
To sum up
For Polish cryptoasset providers, the end of the MiCA transition period does not automatically mean the end of their business, but it does force them to make a conscious choice of path. In practice, two viable paths remain: obtaining a license in another EU country and passporting services to Poland, or collaborating with a licensed CASP. For entities that have not yet prepared, an orderly winding down of operations is necessary, with customer protection as the absolute priority. Regardless of the choice, AML/CFT procedures must be maintained, reliable and proactive communication with customers must be maintained, and further work on the Polish implementing act, which, once in force, will reopen the national licensing path, must be closely monitored.
This article is for informational purposes only and does not constitute legal advice.
Legal status as of July 2, 2026.
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