Most crypto exchanges in Poland are likely to shut down due to MiCA
The post Most crypto exchanges in Poland are likely to shut down due to MiCA appeared on BitcoinEthereumNews.com.
Europe’s Markets in Crypto Assets (MiCA) rules, along with national regulations, are threatening the survival of the majority of Polish cryptocurrency exchanges, analysts have warned. While global players are already adapting to the changes, which require serious investments in legal and technological capacity, small domestic platforms in Poland find compliance costs prohibitive. MiCA may push Polish exchanges out of business Poland’s cryptocurrency market, one of the largest in Central and Eastern Europe, is preparing for an unprecedented transformation that has the potential to seriously affect local businesses, the Bitcoin.pl portal noted in an article this week. As many as 90% of cryptocurrency exchanges in the country could cease operations by the end of 2025, the crypto news outlet warned, quoting industry watchers. MiCA, the European Union’s common regulatory framework for crypto assets, and the “astronomical costs of complying” with the new requirements, including Polish ones, will cause a “wave of closures” in the sector, the website predicted. Under the EU regulation, providers of crypto-related services across the bloc are now obliged to abide by strict unified rules, but the associated expenses may vary significantly from one member state to another. Obtaining a license in Poland would cost an applicant between 1.5 and 3 million Polish złoty (roughly $400,000 – $800,000), and that’s not even the full bill yet. Crypto firms must also raise at least €500,000 (over $580,000) in the form of initial capital and implement advanced compliance and reporting systems, the report highlighted. These requirements are impossible to meet for small to medium-sized crypto exchange offices that have until now operated on the fringes of the financial market, the author insisted. The owner of one such office in Warsaw, who asked not to be named, put it even more bluntly: “This is a death sentence for local players. We…
