Poland
Retail_Trading_Status
- Analysis ID
- #760
- Version
- Latest
- Created
- 2025-12-12 05:08
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- be87564c...
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- Workflow Stage
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Executive Summary
Retail cryptocurrency trading is legal and regulated in Poland, primarily under the Anti-Money Laundering (AML) Act which mandates registration for Virtual Asset Service Providers (VASPs). While the country is in the process of transitioning to the EU's MiCA framework, the national implementing legislation ('Act on the Crypto-Asset Market') was vetoed by the President in December 2025, delaying the transfer of full supervisory power to the Polish Financial Supervision Authority (KNF). Currently, crypto businesses must be entered into the Register of Virtual Currencies maintained by the Tax Administration Chamber in Katowice.
Key Pillars
Primary Regulator (Current): Director of the Tax Administration Chamber in Katowice (maintains VASP register)
Primary Regulator (Future/Intended): Polish Financial Supervision Authority (KNF) under MiCA
Registration: Mandatory entry in the 'Register of activities in the field of virtual currencies' for all exchange and custody providers
AML/CFT: Compliance with the Act on Combating Money Laundering and the Financing of Terrorism (KYC, transaction monitoring)
Taxation: 19% flat rate on capital gains from the disposal of virtual currencies
Landmark Laws
Act on Combating Money Laundering and the Financing of Terrorism (Journal of Laws 2018, item 723 (as amended)) - Enacted: 2018-03-01
- Establishes the legal definition of virtual currencies and introduces the mandatory 'Register of activities in the field of virtual currencies' (VASP register) effective from November 2021.
- Source
Personal Income Tax Act (PIT Act) (Art. 17 para. 1 point 11) - Enacted: 1991-07-26
- Explicitly categorizes income from the disposal of virtual currencies as capital gains, subject to a flat 19% tax rate, and allows for the deduction of documented acquisition costs.
- Source
Act on the Crypto-Asset Market (Vetoed) (Draft Bill)
- Intended to implement the EU MiCA Regulation and designate the KNF as the competent authority. Vetoed by the President on December 1, 2025, due to concerns over domain blocking powers and fees.
- Source
Considerations
MiCA Implementation Delay: The presidential veto of the Crypto-Asset Market Act in Dec 2025 has created a legislative impasse, leaving the KNF without full enforcement powers for the new EU regime.
VASP Register vs. CASP License: Currently, entities operate under the simpler VASP registration (AML focus) rather than the full MiCA CASP license, though MiCA provisions are directly applicable at the EU level.
Tax Clarity: Poland has one of the clearest tax regimes in the EU for retail crypto, with specific tax forms (PIT-38) and rules for cost deduction.
Bank Access: Generally available, though some banks may apply stricter risk assessments to crypto-related transfers.
Notes
The status is 'Allowed-Regulated' because a formal registration regime (VASP register) is actively enforced and retail trading is explicitly taxed and permitted. The recent veto of the MiCA implementation law introduces political uncertainty but does not negate the legality of the current regime.
Remaining Uncertainties
- Timeline for the revision and passage of the vetoed Crypto-Asset Market Act.
- Specific interim measures the KNF might employ to enforce MiCA requirements without the national act in force.
- Impact of the legislative delay on Polish entities seeking to passport their services to other EU countries under MiCA.
Detailed Explanation
Detailed Explanation
Retail cryptocurrency trading is legal and explicitly regulated in Poland, operating under a clear national framework that is currently in a transitional phase towards full alignment with the European Union's Markets in Crypto-Assets (MiCA) Regulation. The primary legal foundation is the Act on Combating Money Laundering and the Financing of Terrorism, enacted on March 1, 2018, which defines virtual currencies and mandates that all exchange and custody service providers must be entered into the mandatory 'Register of activities in the field of virtual currencies' (VASP register), maintained by the Director of the Tax Administration Chamber in Katowice. This registration, effective since November 2021, focuses on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) compliance. Furthermore, taxation is clearly defined under the Personal Income Tax Act (PIT Act), where income from the disposal of virtual currencies is categorized as capital gains subject to a flat 19% rate, with the right to deduct documented acquisition costs, providing one of the clearest tax regimes for crypto in the EU. The country is in the process of implementing the EU's MiCA framework, which would transfer primary supervisory authority to the Polish Financial Supervision Authority (KNF). However, this transition has been delayed following the presidential veto on December 1, 2025, of the national 'Act on the Crypto-Asset Market,' which was intended to formally designate the KNF and implement MiCA's provisions. Consequently, while MiCA is directly applicable at the EU level, the KNF lacks the full enforcement powers granted by national law, creating a legislative impasse. Entities currently continue to operate under the existing VASP registration regime rather than the more comprehensive MiCA Crypto-Asset Service Provider (CASP) license. Bank access for crypto-related activities is generally available, though individual banks may apply stricter risk assessments. The status remains 'Allowed-Regulated' due to the actively enforced registration and taxation framework, despite the political uncertainty introduced by the recent veto.
Summary Points
Poland Cryptocurrency Regulatory Summary
I. Regulatory Status
* Retail cryptocurrency trading is Allowed-Regulated.
* A formal registration regime for Virtual Asset Service Providers (VASPs) is actively enforced.
* The country is in a transitional phase towards the EU's MiCA framework, but national implementation is delayed.
II. Key Regulatory Bodies
* Director of the Tax Administration Chamber in Katowice: The current primary regulator, maintaining the VASP register.
* Polish Financial Supervision Authority (KNF): The intended future primary regulator under MiCA, but its full supervisory powers are pending national legislation.
III. Important Legislation
* Act on Combating Money Laundering and the Financing of Terrorism (Journal of Laws 2018, item 723):
* Enacted March 1, 2018.
* Provides the legal definition of virtual currencies.
* Established the mandatory 'Register of activities in the field of virtual currencies' (VASP register), effective November 2021.
* Personal Income Tax Act (PIT Act) (Art. 17 para. 1 point 11):
* Explicitly categorizes income from virtual currency disposal as capital gains.
* Subjects such income to a flat 19% tax rate and allows deduction of documented acquisition costs.
* Act on the Crypto-Asset Market (Vetoed) (Draft Bill):
* Intended to implement MiCA and designate the KNF as the competent authority.
* Vetoed by the President on December 1, 2025, delaying the transfer of supervisory power.
IV. Compliance Requirements
* Registration: Mandatory entry into the VASP register for all exchange and custody service providers.
* AML/CFT: Compliance with the Act on Combating Money Laundering, including KYC and transaction monitoring obligations.
* Taxation: Individuals must pay 19% capital gains tax on profits from crypto disposal, reported via form PIT-38.
V. Notable Restrictions or Limitations
* MiCA Implementation Delay: The presidential veto has created a legislative impasse, leaving the KNF without full enforcement powers for the new EU regime.
* Regulatory Duality: Entities currently operate under the simpler VASP registration (AML focus) rather than the full MiCA CASP license, though MiCA provisions are directly applicable at the EU level.
* Banking Access: While generally available, some banks may apply stricter risk assessments to crypto-related transactions.
VI. Recent Developments or Notes
* The veto of the MiCA implementation law in December 2025 introduces political and regulatory uncertainty.
* The current VASP register remains the operative compliance requirement for crypto businesses.
* Poland's tax treatment of crypto is notably clear and specific within the EU context.
Full Analysis Report
Full Analysis Report
Poland has established a clear and functioning regulatory environment for cryptocurrency trading, characterized by a mandatory registration regime and explicit tax rules. Since November 2021, the primary legal framework has been the Act on Combating Money Laundering and the Financing of Terrorism, which requires all entities providing exchange or custody services to register in the 'Register of activities in the field of virtual currencies.' This register is maintained by the Director of the Tax Administration Chamber in Katowice. As of late 2025, over 1,000 entities are listed in this register, indicating a robust and active market. Retail investors can legally buy, sell, and hold cryptocurrencies, and the tax authority (KAS) provides clear guidance on reporting gains.
The taxation of cryptocurrency in Poland is favorable and transparent compared to many other jurisdictions. Profits from the sale of crypto assets are treated as capital gains (money capitals) and taxed at a flat rate of 19%. Crucially, the exchange of one cryptocurrency for another (crypto-to-crypto) is tax-neutral and does not trigger a taxable event until the asset is converted to fiat currency or used to pay for goods and services. Taxpayers report these gains annually using the PIT-38 form, and legislation allows for the carry-forward of excess acquisition costs to subsequent tax years.
However, the regulatory landscape is currently in a state of flux due to the implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation. While MiCA is directly applicable across the EU, member states must pass national laws to designate competent authorities and define procedural specifics. In Poland, the 'Act on the Crypto-Asset Market' was passed by Parliament to designate the Polish Financial Supervision Authority (KNF) as the primary regulator with broad supervisory powers. This act was intended to replace the existing VASP register with a full CASP licensing regime.
In a significant development on December 1, 2025, President Karol Nawrocki vetoed the Act on the Crypto-Asset Market. The President cited concerns regarding provisions that would allow the KNF to block internet domains of non-compliant entities, arguing this could infringe on civil liberties, as well as objections to the high supervisory fees imposed on market participants. This veto has created a temporary legislative vacuum regarding the specific enforcement of MiCA in Poland, leaving the existing AML-based VASP registration regime as the primary active framework while the government works to amend the bill. Consequently, while retail trading remains fully 'Allowed-Regulated,' the transition to the stricter KNF-supervised era faces delays.
Poland has established a clear and functioning regulatory environment for cryptocurrency trading, characterized by a mandatory registration regime and explicit tax rules. Since November 2021, the primary legal framework has been the Act on Combating Money Laundering and the Financing of Terrorism, which requires all entities providing exchange or custody services to register in the 'Register of activities in the field of virtual currencies.' This register is maintained by the Director of the Tax Administration Chamber in Katowice. As of late 2025, over 1,000 entities are listed in this register, indicating a robust and active market. Retail investors can legally buy, sell, and hold cryptocurrencies, and the tax authority (KAS) provides clear guidance on reporting gains. The taxation of cryptocurrency in Poland is favorable and transparent compared to many other jurisdictions. Profits from the sale of crypto assets are treated as capital gains (money capitals) and taxed at a flat rate of 19%. Crucially, the exchange of one cryptocurrency for another (crypto-to-crypto) is tax-neutral and does not trigger a taxable event until the asset is converted to fiat currency or used to pay for goods and services. Taxpayers report these gains annually using the PIT-38 form, and legislation allows for the carry-forward of excess acquisition costs to subsequent tax years. However, the regulatory landscape is currently in a state of flux due to the implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation. While MiCA is directly applicable across the EU, member states must pass national laws to designate competent authorities and define procedural specifics. In Poland, the 'Act on the Crypto-Asset Market' was passed by Parliament to designate the Polish Financial Supervision Authority (KNF) as the primary regulator with broad supervisory powers. This act was intended to replace the existing VASP register with a full CASP licensing regime. In a significant development on December 1, 2025, President Karol Nawrocki vetoed the Act on the Crypto-Asset Market. The President cited concerns regarding provisions that would allow the KNF to block internet domains of non-compliant entities, arguing this could infringe on civil liberties, as well as objections to the high supervisory fees imposed on market participants. This veto has created a temporary legislative vacuum regarding the specific enforcement of MiCA in Poland, leaving the existing AML-based VASP registration regime as the primary active framework while the government works to amend the bill. Consequently, while retail trading remains fully 'Allowed-Regulated,' the transition to the stricter KNF-supervised era faces delays.
Source Evidence
Primary and secondary sources cited in this analysis
"On December 1, 2025, Karol Nawrocki, President of the Republic of Poland, refused to sign the Act on the Crypto-Asset Market."
"Activity in the field of virtual currencies is a regulated activity... and requires entry in the register."
"Chapter 11a: Activities in the field of virtual currencies."
"You'll pay a flat 19% tax on any gains or income from crypto in Poland."
"Under the provisions of Polish law, the equivalent of an authorisation... is the entry in the Register of Virtual Currency Activities."
Web Sources (4)
Sources discovered via web search grounding
Search queries used (5)
- Poland crypto tax laws 2024
- Poland register of activities in the field of virtual currencies
- Poland MiCA implementation draft act
- KNF Poland crypto position 2025
- Poland cryptocurrency regulation retail trading status 2024 2025
https://cgolegal.com/crypto-license-in-poland/
https://www.demire.eu/news/104/370/Poland-Crypto-Tax-The-Ultimate-Guide-2024/
https://koinly.io/guides/crypto-tax-poland/
https://www.lawfirmpoland.com/mica-in-poland-update-october-2025/