A MiCA license issued in any EU nation provides the holder entry to the complete 27-nation bloc in addition to Iceland, Liechtenstein, and Norway. Meaning Polish corporations are more likely to apply in international locations corresponding to Lithuania, Latvia or Germany earlier than passporting their companies again residence.
“The enterprise merely strikes someplace else,” Wojciech Kaszycki, chief technique officer of Warsaw-based fintech BTCS, informed CoinDesk in a video interview. “Not one of the Polish corporations can obtain the authorization in Poland.”
Nawrocki says the legislation, which he rejected for a 3rd time earlier this month, provides regulators extreme powers, together with the flexibility to dam crypto corporations’ web sites and impose guidelines that would push companies overseas. He is additionally stated it favors banks and huge companies over startups whereas creating a very complicated regulatory framework.
Kaszycki stated he agreed with Nawrocki’s criticism that elements of the legislation went past MiCA itself. The draft, which has been handed by each homes of parliament, permits the Monetary Supervision Authority (KNF) to freeze buyer funds for months and block web sites earlier than corporations have exhausted authorized appeals.
Mateusz Kara, CEO of Morphic Monetary Group, headquartered in London and with deep roots and operations in Poland, stated the price of a MiCA license and the political impasse may “wipe out Polish crypto.”
