Poland MiCA (Markets in Crypto Assets) crypto requirements 2025
The EU’s MiCA regulation, effective December 30, 2024, will require all Polish crypto-asset service providers to obtain mandatory CASP authorization. Existing VASPs can operate under current rules until June 30, 2025, if they apply by May 1, 2025. Full compliance with governance, transparency, and financial stability standards, overseen by the KNF, is mandatory by July 2025, as the VASP register dissolves by October 2025.
Implementation Timeline:
- December 30, 2024: MiCA regulations become applicable across the EU.
- December 30, 2024 – June 30, 2025: In Poland, entities registered in the Virtual Asset Service Providers (VASP) register as of December 30, 2024, may continue their operations under existing anti-money laundering (AML) and counter-terrorist financing (CTF) regulations until they obtain or are refused a Crypto-Asset Service Provider (CASP) license, but no later than June 30, 2025.
- June 30, 2025 – September 30, 2025: These entities can continue providing crypto-asset services until they receive a decision on their CASP authorization, provided they submit a complete application before May 1, 2025, and receive the notification referred to in Article 63(4) of MiCA.
- October 1, 2025: The Polish VASP register will be dissolved.
Here's how Scorechain’s AML compliance tools can be adapted to help crypto-asset service providers (CASPs) in Poland comply with the MiCA requirements and local regulatory landscape:
- Mandatory Licensing:
In Poland, CASPs must comply with both MiCA’s EU-wide licensing requirements and Polish financial laws. Scorechain provides a robust compliance framework, helping CASPs maintain a clear audit trail and meet local regulatory expectations, such as registration with the Polish Financial Supervisory Authority (KNF).
- Enhanced Due Diligence (CDD):
Scorechain's advanced tools support CASPs in Poland to comply with MiCA and local AML laws by enabling efficient wallet screening, transaction tracking, and identification of high-risk entities, ensuring alignment with Poland's anti-money laundering standards.
- Reporting Obligations:
Scorechain simplifies compliance with Poland's requirement to report suspicious transactions to the General Inspector of Financial Information (GIIF). Its SAR (Suspicious Activity Reporting) ensures Polish CASPs meet both national and MiCA requirements efficiently and on time.
- Internal Controls:
Scorechain assists Polish CASPs in implementing strong AML/CFT (Countering the Financing of Terrorism) policies. With its customizable internal controls, CASPs can establish compliance programs that meet MiCA standards while addressing Poland’s specific AML requirements.
- Regulatory Oversight:
Scorechain’s real-time analysis and audit features provide Polish regulators, such as the KNF and GIIF, with the data needed for effective supervision. This ensures CASPs in Poland maintain compliance with MiCA and integrate seamlessly into the EU's harmonized regulatory framework.
By leveraging Scorechain, Polish CASPs can efficiently navigate both EU-wide MiCA requirements and local Polish AML regulations, ensuring compliance while fostering trust and operational efficiency in the growing crypto market.
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