- •Poland aligns crypto regulations with EU MiCA framework.
- •Non-compliance may lead to $2.8M fines or prison.
- •Law aims to boost investor protection and market clarity.
Polish lawmakers have officially passed the Crypto-Asset Market Act, a new law designed to regulate the country’s fast-growing digital asset industry. This move aligns Poland with the European Union’s Markets in Crypto-Assets (MiCA) framework, ensuring that crypto companies follow consistent rules across EU member states.
Penalties for Non-Compliance
The new act sets strict consequences for companies and individuals who fail to comply. Violations could result in fines of up to $2.8 million or even two years in prison. These penalties highlight the government’s determination to ensure that the industry operates transparently and responsibly.
Crypto businesses will now be required to register and follow compliance standards, particularly around consumer protection and anti-money laundering measures. This ensures that users have greater security when interacting with crypto platforms.
Impact on the Crypto Industry in Poland
For investors, the new rules bring more safety and clearer rights when using crypto services. For businesses, the regulation means higher operational costs due to compliance but also opens the door for increased credibility in the European market.
By adopting the MiCA framework early, Poland positions itself as a key player in Europe’s regulated crypto landscape. This could attract more institutional investors and crypto startups looking for a stable regulatory environment.