Is this where VASPS go to Die.1 Jan 2026 12:55
As of December 31, 2025, Poland has not successfully passed or implemented the national legislation required to fully transpose the EU's Markets in Crypto-Assets Regulation (MiCA) for Crypto-Asset Service Providers (CASPs).
Key Developments
* In September 2025, the Polish Parliament (Sejm) adopted the Act on Crypto-Assets Market, which aimed to designate the Polish Financial Supervision Authority (KNF) as the competent authority for CASP licensing and set out procedural details.
* However, in late 2025 (around December), President Karol Nawrocki vetoed the bill, citing concerns over excessive regulation, threats to property rights, and personal freedoms.
* The Parliament (Sejm) subsequently failed to override the veto (requiring a three-fifths majority), blocking the law.
* This leaves Poland as the only EU member state without a national MiCA-implementing framework in place.
Implications for CASP Licensing and Grandfathering
* Without national legislation, the KNF cannot formally accept, process, or grant CASP authorizations under MiCA.
* Pre-MiCA Polish VASPs (registered before December 30, 2024) benefit from the default EU grandfathering period under Article 143(3) of MiCA, allowing some operations until July 1, 2026 (or until a CASP decision, if applied for elsewhere).
* No shortened transitional period applies, as Poland did not enact shortening measures before MiCA's applicability date.
Current Status and Expectations
* The legislative process must restart, likely with a new or revised draft.
* Given political hurdles and the need for parliamentary debate, passage is not expected imminently—potentially delaying full implementation into 2026 or beyond.
* In the interim, existing operators can continue under restricted grandfathering, but new entrants or those seeking full MiCA passporting need to pursue authorization in other EU jurisdictions (e.g., via cross-border services).
This situation creates ongoing regulatory limbo for the Polish crypto market, with calls from industry and some officials for swift resolution to avoid firms relocating.
Firms relocating lol President doesn’t seem for turning x;)
The BOD should be ashamed of another shambles they have overseen. Unreal.
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