Poland Moves to Tighten Cryptocurrency Regulations

Polish Sejm approves crypto regulations, sending bill to Senate.

The Polish Sejm has approved the “Crypto Asset Market Act,” introducing industry regulations. The document has been sent to the Senate for consideration.

The bill received support from 230 votes, with 196 members of the lower house opposing it.

Under the provisions of the document, the main regulator is designated as the Financial Supervision Commission (KNF). A licensing regime is introduced for all crypto asset service providers (CASP), in accordance with the European MiCA regulation.

To gain approval to operate in the country, applicants must:

• disclose their corporate structure;
• confirm capital adequacy;
• provide information on internal control and compliance systems, risk management policies, and AML procedures.

Operating without a license entails criminal liability, including up to two years in prison. Fines can reach 10 million zlotys (~$2.74 million).

If the bill is passed, CASPs will have a six-month transition period to comply with its norms.

Sejm member Janusz Kowalski from the opposition party “Law and Justice” criticized the implementation of MiCA proposed and supported by the ruling “Civic Platform.” He described the bill as “118 pages of excessive regulation” and a threat to 3 million digital asset investors.

🚨Platforma Obywatelska Donalda Tuska niszczy rynek kryptoaktywów w Polsce i uderza w 3 miliony Polaków posiadających kryptowaluty. @MF_GOV_PL chce wsadzać do więzienia za innowacje kryptowalutowe.

👉Polska implementacja unijnego rozporządzenia MiCA (Markets in Crypto-Assets… pic.twitter.com/Ki5QjnbH25

— Janusz Kowalski 🇵🇱 (@JKowalski_posel) September 24, 2025

“This is the most extensive and restrictive cryptocurrency law in the EU!” the deputy emphasized.

He noted that similar regulations in other European countries range from one page in Cyprus to 78 in Germany.

Kowalski expressed hope for a veto from President Karol Nawrocki and promised to present a “rational implementation of MiCA” in October.

Politician Tomasz Mentzen criticized the choice of the main crypto market regulator.

“KNF is the slowest acting regulator in the EU: the average application review time is 30 months,” he stressed.

Mentzen also urged the head of state to veto the bill, adding that after this, rules could be developed “that will develop, not destroy, the crypto asset market in Poland.”

Back in the presidential elections, Tomasz Mentzen’s brother, Sławomir, promised to create a bitcoin reserve in the country if elected.