A crypto exchange, like any other crypto-related business, is required to obtain a license in order to operate in full legality and gain the trust of customers and partners alike. In 2025, Poland will remain one of the leading European jurisdictions for registering a crypto exchange. What sets this country apart from others and what benefits you can obtain from licensing your exchange in Poland? We will break down the entire process and its features from A to Z.
What are the legal requirements for obtaining a crypto license in Poland in 2025?
A Poland crypto license is known for having one of the most light and comprehensive regulatory frameworks in Europe. The key requirements for successful licensing include company formation with a legal address in Poland, a set of corporate documents, including AML-CFT policies, including a Risk Matrix, a compiled and submitted licensing application to the Polish authorities, and a corporate bank account for the company. The best and fastest way to gather the entire set of corporate documents and meet all requirements is to consult a lawyer knowledgeable about the intricacies of European and particularly Polish crypto licensing.
What types of licenses or registrations are necessary for operating a crypto exchanger in Poland?
Poland has a sole license type suitable for a variety of business models, including crypto exchange platforms. Once a company has obtained the license, it can provide both crypto-to-crypto and crypto-to-fiat exchange services to its customers. Licenses are particularly necessary when it comes to offering on-ramping and off-ramping solutions to clients, that is when dealing with fiat currencies in any way.
What steps are involved in the application process for a crypto license in Poland?
The first step towards obtaining a crypto permit in Poland involves forming a Limited Liability Company (LLC) in the country. For this, a set of corporate documents, such as identity documents and proof of non-criminal records for beneficiaries, shareholders, and directors, must be gathered.
Then, one must attach a document that proves that the startup is adept and knowledgeable enough to provide crypto services and manage operations with crypto assets. After this, it is also necessary to attach the company’s AML compliance policies according to the Poloish AML Act of 2018. During the company incorporation process, you must also declare the required initial share capital to the authority.
Once the company is formed, it may apply for the crypto license. It is required to attach to the application the description of business activities, policies, and procedures needed to monitor and report any suspicious transactions, as well as KYC, due diligence, and client risk assessment procedures.
What are the compliance obligations for crypto exchangers under Polish regulations?
In Poland, cryptocurrency exchanges must register with Poland’s Register of Virtual Currencies. They must meet stringent conditions, including having no criminal records for individuals associated with the company and demonstrating relevant professional knowledge or expertise in cryptocurrency operations, such as completing certified training or having at least one year of previous experience. There are also AML compliance and regular reporting to the authorities obligations in place.
How long does it typically take to obtain a crypto license in Poland?
Obtaining a crypto license in Poland is not an extremely fast process given that the country has multiple requirements set in place to adhere to European standards. On average, it can take up to 2-4 months, depending on the completeness of the application and the workload of the regulatory body. This includes preparation, review by authorities, and final registration in the National Register of Virtual Currencies. At the same time, with the help of a certified lawyer or even a team of lawyers with sufficient experience in crypto licensing in Poland, the process can be shortened to 6-7 weeks.
What are the financial costs associated with acquiring and maintaining a crypto license in Poland?
The costs associated with securing the Polish crypto license involve the company incorporation fees, license obtainment fees, initial share capital requirement, and additional costs associated with building and registering your business. The current share capital requirement for a company in Poland is 5.000 PLN. In addition, if you must hire additional personnel, such as an AML Officer, as required by the licensing process, it will further the basic costs of company incorporation and licensing.
How can crypto businesses ensure ongoing compliance with Polish and EU crypto regulations after obtaining a license?
Crypto businesses in Poland and the EU can ensure ongoing compliance by implementing advanced AML/KYC systems to monitor transactions and meet reporting obligations to the Polish authorities. Regular audits, both internal and external, are critical for aligning operations with Polish laws and EU regulations like MiCA, which is expected to be in full force in 2025. In addition, appointing a compliance officer or engaging specialized legal experts can improve your company’s adherence to regulations and liquidate any possible risks.
