Polish Lawmakers Pass MiCA Bill 241–200 After Repeated Vetoes

Poland’s lower house of parliament voted 241–200 to approve a Ministry of Finance-backed bill that transposes the European Union’s Markets in Crypto-Assets (MiCA) framework into national law. The vote ends a legislative deadlock that had left crypto firms without a domestic licensing route, even as MiCA’s provisions began taking effect across other EU states. The bill now moves to the president, who has not signaled any intent to veto the government-backed legislation.

241–200 Vote Ends Regulatory Vacuum

The 241–200 margin reflects a Sejm that had repeatedly blocked earlier drafts. The Ministry of Finance drafted the bill to align Poland with the EU’s harmonized crypto rulebook. MiCA came into force at the union level in 2023, yet each member state must pass its own implementing law. Poland’s delays meant the Polish Financial Supervision Authority (KNF) lacked the legal tools to enforce MiCA’s rules on stablecoins and crypto-asset service providers (CASPs), even as other regulators began issuing licenses.

That vacuum created a concrete problem for exchanges, custodians, and wallet providers operating in Poland. They could not apply for MiCA-compliant authorization through the KNF because the national law did not exist. The approval now gives the KNF a clear mandate to build the authorization process. The regulator has not yet published a timeline for accepting applications, a detail that will determine how quickly firms can transition to the new regime.

MiCA Licensing Framework for Polish Exchanges

MiCA introduces a single licensing regime for CASPs across all 27 EU member states. Once the Polish law is in force, any firm offering custody, exchange, trading platform, or advisory services to Polish residents must obtain authorization from the KNF or another EU national competent authority. The framework also imposes strict rules on stablecoin issuers, including reserve requirements and redemption rights.

For Poland, which hosts a sizable retail crypto market and several homegrown exchanges, the shift is material. Firms that have been operating under transitional national rules or without formal licensing will face a compliance deadline. The law is expected to include a grandfathering period, as seen in other EU jurisdictions. The clock starts ticking once the president signs.