The EU's new law takes effect, making Poland a hotbed for Web3 entrepreneurship

With the implementation of the EU's regulatory framework for the crypto asset market, many Web3 companies are turning their attention to the European market. Poland, as a highly promising emerging market, is attracting an increasing number of entrepreneurs to establish their presence. This article will provide an in-depth analysis of the current development status and regulatory environment of the Web3 market in Poland.

Overview of the Development of the Web3 Market in Poland

The economic foundation is strong.

Poland is the sixth largest economy in the European Union and plays an important role in Central and Eastern Europe. Although the fintech industry started relatively late, it has great development potential. A good macroeconomic environment provides a solid foundation for the Web3 industry.

Companies prefer to establish entities

As an important commercial center in Central and Eastern Europe, Poland has attracted a large number of companies to set up branches here. The Web3 sector is also showing a vigorous development trend, with over 1,100 virtual asset service providers registered and 126 active Web3 startups.

The user base is large.

Poland has a population of 38.26 million, ranking fifth in the EU. Surveys show that 94% of Polish people have heard of cryptocurrencies, but only 6.2% have a deep understanding, indicating a broad market potential. Currently, cryptocurrencies are mainly used as investment and speculation tools, with young males being the primary user group.

Regulatory Framework and Policies

main regulatory authority

The Polish Financial Supervision Authority ( KNF ) is the main financial regulatory body, responsible for supervising banks, capital markets, insurance, and Web3 companies operating in Poland.

encryption regulatory policy

Poland is actively promoting domestic legislation to align with the EU's MiCA. The draft "Polish Crypto Asset Market Law" significantly shortens the transition period stipulated by MiCA, requiring existing VASP entities to submit CASP license applications by June 30, 2025. The original VASP registration system will be abolished starting October 1, 2025.

Violation Penalty Measures

After obtaining the CASP license, enterprises must strictly comply with MiCA and relevant regulations in Poland. Violations may result in public warnings, business cessation, revocation of licenses, and other penalties. In serious cases, criminal liability may be incurred.

Tax Policy

Poland's taxation policy on crypto assets is relatively mature. Income generated from cryptocurrency transactions is considered capital gains, with a tax rate of 19%. It is important to note that taxes are due not only when converting cryptocurrencies into fiat currency but also when exchanging them for goods, services, or property.

Market Outlook

As an important economy in Central and Eastern Europe, Poland has an active Web3 user base and an improving regulatory framework, providing a favorable environment for industry development. However, with the enactment of the MiCA legislation and stricter local regulations, companies will also face higher compliance requirements. In the future, the Polish Web3 market is expected to achieve healthy development within regulations, offering broad opportunities for entrepreneurs.