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Crypto license in Poland

Poland is a member of the European Union. The country is located in Eastern Europe near Germany, Austria, the Czech Republic, and the Baltic countries. Some time ago, Poland ran a new policy that regulates virtual assets. The state government relies on digital technologies, and the country hosts many IT EU-registered companies like Egera, BitBay, BitStamp, and BitFinex. Until the latest legal framework changes, Poland showed a loyal regulation of business activities with virtual assets, making it a desirable jurisdiction for obtaining a previously known VASP license.

Due to the national implementation of the Markets in Crypto-Assets Regulation, or shortly, MiCA or MiCAR, in Poland and other EU members, crypto-related businesses are now subject to licensing as a Crypto Asset Service Provider (CASP). This is a significant change in the regulatory framework, and it has introduced a new set of challenges for the crypto industry as companies must meet stricter standards and requirements.

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Overview of the Cryptocurrency Market in Poland

For a more detailed understanding of Poland’s digital asset market, here are the key milestones in its crypto-market history:

  • Expected Revenue (2023): According to Statista’s latest report, the revenue in 2023 could reach €279 million.
  • Projected Development (2023–2027): The Polish digital assets market is projected to grow at an approximate Compound Annual Growth Rate (CAGR) of 11.48% from 2023 to 2027. With this rate of expansion, the market’s valuation might potentially hit €431.5 million by 2027.
  • Revenue per user (2023): The average revenue per user in the Polish digital asset market is expected to reach €46.6 in 2023. This indicator shows the profitability of the VASP crypto market.
  • Revenue comparison: According to forecasts, the digital asset market in Estonia in 2023 could reach €14.91 million. This means that the Polish digital asset market will be almost 20 times larger than the Estonian market.
  • User growth forecast: The number of users in Poland’s digital asset market is forecast to grow significantly. It is estimated to reach around 7.85 million users by 2027. In fact, this means that every 5th person in Poland will use digital assets.
  • User Penetration Rate: The rate of digital asset use in Poland will grow from 15.9% in 2023 to 21.0% by 2027. This growth indicates the increasing usage of digital assets in Poland.