CASP License in Poland HUB
CASP license in Poland under MiCA
The Markets in Crypto-Assets Regulation (MiCA) came into full effect in Poland on 30 Decemeber 2024. The existing regulations concerning entry into the Polish Register of Virtual Currencies have ceased to apply, and any business wishing to operate in the crypto sector must now obtain a CASP license in Poland under MiCA. This marks a complete shift to a new licensing procedure based on the EU framework.
Poland provides a highly favorable environment for obtaining a Crypto Asset Service Provider (CASP) license. The Polish implementing provisions generally do not appear to impose requirements that are stricter than the MiCA framework, although some draft measures remain more prescriptive in practice. As a result, obtaining a CASP license in Poland may provide a comparatively smoother route to MiCA passporting across the European Union than in some other jurisdictions.
Obtaining CASP license route map
My Law Firm in Poland is widely recognized as one of the most reputable legal practices in the field of cryptocurrency regulation. Having started providing legal services in this field in 2017, it has since become my core area of expertise.
I have developed a tailored roadmap for obtaining a CASP license in Poland based on a deep, continuous analysis of the MiCA regulations and accompanying ESMA guidances. Obtaining a CASP license in Poland involves a structured process to ensure compliance with national and EU regulations.
It is important to emphasize that obtaining a CASP license under MiCA requires a tailored, individualized approach. Unfortunately, a “ready-made” solution is not possible. Each project demands a customized action plan and a set of internal documentation to be submitted with the application for obtaining a crypto license in Poland. Without the Client’s active involvement, obtaining CASP authorization will not be possible.
The process of obtaining a CASP license in Poland can be organized into the following stages:
Step 1 - Business assesment and defining regulatory framework
The first step involves an in-depth consultation to understand the Client’s business model and activities. This is crucial because the scope and type of crypto-asset services offered will determine the regulatory requirements. The main tasks include:
- Understanding the Client’s business model, including, inter alia, determination of the minimal capital requirements and scope of offered services.
- Reviewing the Client’s organizational structure and proposing adjustments where needed to ensure alignment with MiCA and CASP licensing standards.
- Determining the regulatory scope.
- Understanding potential compliance risks.
Outcome of Step 1
By the end of the Initial Consultation and Business Assessment, the Client will have a clear understanding of the regulatory landscape, specific compliance obligations, and any potential challenges. As a result of this step Client should have developed tailored action plan to guide through the orgaznisational structure, documentation and application process, ensuring that the business is well-prepared for the subsequent steps of the CASP license acquisition. Among others, Client should be equipped with assessment which contains:
- Regulatory Recommendations:
- Clarification of the specific regulatory requirements that apply to the Client’s business model.
- Recommendations on additional legal, compliance, or operational steps that need to be taken to prepare for the CASP application process.
- Organizational structure recommendations:
- Recommendations for establishing a governance framework and appointing key personnel, who are critical for obtaining regulatory approval.
- Advisory on the “fit and proper” assessment, time commitment and residence of key functions in the CASP
- Internal Control Framework
- Guidance on the implementation or improvement of AML compliance measures.
- Recommendations for establishing a governance framework and appointing key personnel, such as compliance officer and internal auditor, who are critical for obtaining regulatory approval.
- Timeline and Next Steps:
- A proposed timeline for completing the remaining steps of the CASP application process, including document preparation, internal restructuring (if needed), and submission deadlines.
- A breakdown of responsibilities, ensuring that both the law firm and the Client are aligned on the tasks ahead.
This phase is critical for minimizing delays and ensuring that the application process is as smooth and efficient as possible.
Step 2 - Documentation preparation and legal work
The Documentation Preparation phase is essential for building a strong application to obtain a CASP license. It requires compiling and submitting a wide range of documents to demonstrate that the applicant meets the regulatory standards. It is essential to clearly define which documents will be prepared by the law firm and which will require input or preparation from the Client. Collaboration is key to ensuring that all required documents are accurate, compliant with regulations, and submitted in a timely manner. The division of responsibilities will depend on the specific expertise of the law firm (legal, compliance) and the internal knowledge and resources available within the Client’s organization (corporate and operational information).
Outcome of Step 2:
After completing the Documentation Preparation step, the Client should have compiled a comprehensive set of documents that fully outline the Client’s operational, governance, and compliance frameworks. These documents are essential for ensuring the Polish Regulator that the applicant is well-prepared to operate a secure, compliant, and sustainable crypto-asset service in Poland.
Once these documents are prepared and finalized, they will be submitted as part of the formal CASP license application, marking the completion of a crucial stage in the licensing process.
Step 3 - Application submission, regulatory communication and post-submission compliance
After completing the documentation in Step 2, the process transitions to the submitting of the CASP license application, managing ongoing communications with the Polish Financial Supervision Authority (KNF), and addressing any follow-up queries or requests from regulators. This step involves:
- Final review and application submission
- Regulatory communication and queries management
- Post-submission support
Requirements for CASP license in Poland
To obtain a CASP license in Poland, an entity must comply both with national and EU regulatory standards. These include governance, AML frameworks, capital rules and internal documentation. Understanding these requirements early is essential for a smooth licensing process. The following section outlines the key obligations with references to dedicated guidance articles on MiCA in Poland.
Document requirements of CASP
The application for a CASP license in Poland requires a comprehensive set of internal and technical documents. These are not only formal attachments but instruments regulators use to verify whether the company is capable of operating under MiCA standards. The scope goes beyond AML, covering among other governance, business continuity and ICT description. . For a detailed overview of the specific materials, see my article on CASP internal documents in Poland.
The regulator will assess whether the documentation is complete, consistent, and tailored to the applicant’s business model. Generic templates are insufficient. Ech document must reflect the actual structure, procedures, and technology of the CASP.
The core documentation package includes:
- Programme of Operations
- AML documents (AML Policy, Risk Assessment, and related procedures)
- Governance and Internal Control Policy
- Business Continuity Plan
- Complaint-handling Procedures
- Commercial Policy
- Record-keeping Procedures
- Conflict of Interest Policy
- Technical documentation – full technical documentation of the ICT systems and security arrangements, plus a description in non-technical language
- Segregation procedures for clients’ crypto-assets and funds
- Personal information of key personnel (identity, proof of good repute, knowledge, skills, and experience)
Each document must be consistent with the others and reflect the actual organisation of the company. Regulators often request clarifications where documents appear theoretical or disconnected from actual practice. Poorly drafted materials can delay the licensing procedure or even trigger rejections.
Capital requirements of CASP
To obtain a CASP license in Poland, firms must demonstrate that they meet the prudential capital safeguards required by MiCA. The regulator checks two levels of protection and applies the higher of the two:
Fixed capital depending on service class (EUR 50,000 – 150,000), or
One quarter of fixed overheads from the previous financial year.
The fixed capital thresholds are divided into three classes of services (see the table below).
Placement of crypto-assets;
Provision of transfer services for crypto-assets on behalf of clients;
Reception and transmission of orders related to crypto-assets on behalf of clients;
Crypto-asset advisory services;
Crypto-asset portfolio management
Exchange of crypto-assets for fiat currency;
Exchange of crypto-assets for other crypto-assets
Form of capital
The safeguard may take the form of:
- own funds (equity, reserves, retained earnings),
- a professional indemnity insurance valid across the EU, or
- a mix of both.
In practice, Polish regulators prefer clear proof of available fiat funds, usually confirmed by a bank certificate or audited statements.
Documentation expected in the application
- description of prudential safeguards and calculation method,
- forecast and stress-test scenarios,
- audited financials (where available),
- policies for monitoring capital compliance.
Requirements for directors of CASP
Directors of CASP must meet specific criteria of residence, professional standing, and availability. Regulator expects demonstrable competence, decision-making authority, and meaningful time commitment. For full details, see article: MiCA in Poland – Requirements for Directors.
- Residence: At least one of the board must be resident in Poland if the CASP, so that authorities can engage in oversight and day-to-day contact;
- Time commitment: Regulators expect the CEO (or equivalent) to devote full attention to CASP duties. Other board members may hold external roles, but must show that these do not interfere with oversight, strategy, or compliance functions.
- Legal status: The functional role of CEO must match the legal corporate status and be enclosed in the Commercial Register as member of the management board. Director should be formally appointed, with documented decision-making powers.
- Fit and proper standard: clean criminal record (including anti-money laundering / terror financing convictions), no outstanding disciplinary actions or regulatory sanctions. Demonstrated knowledge of finance/crypto markets, legal, regulation, and risk (cybersecurity, compliance) is expected.
- Documents required: CV, identification, declarations of good repute, proof of roles and responsibilities, history of employment, any previous regulatory or professional references and certificates of trainings.
Requirements for AML Officer
The AML Officer is a statutory function under the Polish AML Act, implementing the EU AML Directives. The person must reside in Poland, remain available for contact with the authorities, and demonstrate professional competence in compliance and AML regulations. For full details, see article: AML Officer in Poland.
- Residency and availability: Although the law does not impose a residency obligation, KNF practice indicates that the AML Officer should be effectively available in Poland. In many cases, this means employment on the territory of the Republic of Poland, to ensure direct contact with GIIF and KNF.
- Language: Full professional proficiency in Polish is required. The AML Officer must be able to prepare internal documentation, communicate with regulator and Polish law enforcement authorities. English is useful for internal communication within CASP, but insufficient on its own.
- Time commitment: Engagement must reflect the CASP’s scale. Regulator often expects at least half-time involvement, moving to full-time in larger companies.
- Form of engagement: The AML Officer must hold a genuine managerial function with independence and authority. The legal form (employment or civil law contract) is secondary.
- Fit and proper standards: Clean criminal record (in particular no AML/CFT or financial offences), no regulatory sanctions. Demonstrated compliance experience, knowledge of Polish AML Act and training are expected.
- Documentation required: CV, ID, declarations of suitability and independence, proof of qualifications and responsibilities.
MiCA in Poland - latest updates
Follow the key milestones in the adaptation of MiCA in Poland. This timeline presents the most important updates on the legal framework and requirements for obtaining a CASP license. Explore each update in detail by clicking on the headlines below.
MiCA in Poland – New crypto regulations
Initial presentation of Poland’s approach to MiCA and early regulatory concepts.
MiCA in Poland – Update December 2024
Refined legislative drafts prepared by the Ministry of Finance.
MiCA in Poland – Update January 2025
First official draft act made available for consultation.
MiCA in Poland – Update March 2025
Parliamentary work intensifies with committee discussions.
MiCA in Poland – New act published (May 2025)
Official publication of the Polish MiCA adopting act.
MiCA in Poland – Update September 2025
Debate in Polish Parliament about shape of MiCA adoption in Poland.
MiCA in Poland – Update October 2025
On 26 Septmber lower chamber of Polish Parliament finally adopted Act on Crypto-Assets Martket.
Transitional period of MiCA in Poland
The concept of a transitional period has evolved since the first legislative drafts in 2024. Earlier versions suggested shorter and less flexible arrangements, but the current draft of the Polish Act on Crypto-Assets Market provides a clearer and more balanced solution.
According to current draft:
Art. 162(1):
During the period from the date of entry into force of this Act until obtaining the authorization referred to in Article 59(1)(a) of Regulation (EU) 2023/1114, or refusal thereof, an entity entered in the register of virtual currency activities on the date of entry into force of this Act may continue its business consisting of providing the services referred to in Article 2(1)(12) of the amended Act, under the existing rules, but no longer than until 1 July 2026, unless removed earlier from the register.
In contrast to previous versions, which guaranteed only four months (extendable to nine) of transitional operation, the final draft introduces a realistic timeframe for market adaptation.
This means that companies listed in the Polish VASP register may continue their crypto assets business until 1 July 2026, without the need to submit a CASP application after the act enters into force.
Moreover, literal wording of the provision makes it clear that the transitional period applies to entities that are listed in the Polish VASP Register. There is no requirement for the VASP to have actually carried out any operational activity in virtual currencies — being listed in the VASP register itself is enough.
MiCA in Poland updates
MiCA in Poland – new crypto regulations
MiCA in Poland – update August 2024
MiCA in Poland – update December 2024
MiCA in Poland – update January 2025
MiCA in Poland – update March 2025
MiCA in Poland – update May 2025
MiCA in Poland – New act published (May 2025)
MiCA in Poland – update September 2025
MiCA in Poland – update October 2025