How to get a cryptocurrency license in Poland: instruction

How to get a cryptocurrency license in Poland: instruction

If you exchange cryptocurrencies for real and virtual money in Poland, provide services for virtual currency accounts (including wallets), you must obtain a cryptocurrency license in Poland. The relevant law was passed on March 30, 2021 to strengthen the fight against money laundering and terrorist financing.

Registration in the register of virtual services

All companies in Poland (exchangers, cryptocurrency exchanges) that engage in the above activities are required to register with the virtual currency registry. To do so, they must meet the following conditions:

  • Not be involved in fraudulent, suspicious activities. The owners must be clean, with no criminal record;
  • Representatives of the companies must have knowledge and experience in the cryptocurrency sphere. To do so, they are required to take a training course that covers all legal and practical issues related to virtual currencies. A minimum of 1 year of experience with tokens should be confirmed by appropriate documents;
  • When the company submits all the necessary documents, the entry into the register of virtual currencies in Poland is made within 14 days.

What license should a cryptocurrency exchange have

A company that exchanges virtual currencies must not only be registered, but also obtain a cryptocurrency license in Poland 2022. It can be:

  • A small payment institution (MIP);
  • National Payment Institution (KIP).

The licenses are issued by the Polish Financial Supervision Authority (PFA).


MIP is an ideal solution for starting up in Poland. There are no share capital requirements to obtain a license other than those specified in the Commercial Companies Code. The permit is issued quickly, within 2 weeks.

MIP allows the following:

  • keep up to €2,000 in user accounts;
  • make payment transactions (up to €1,500,000 per month);
  • issue payment instruments (e.g. mobile applications);
  • accept payments by means of payment instruments (e.g. cards) for other persons;
  • change currencies;
  • granting loans.

The license holder cannot issue ISOs, work outside of Poland, or invest his or her accumulated money.

How to get a MIP

The procedure for obtaining a MIP is as simple as possible. The company must do the following:

  • submit a list of services it plans to provide;
  • show a businessplan, financial calculations;
  • develop procedures for risk management, complaint handling.

It is possible not to submit reports to PFSA (financial regulator) about the owners, management or capital links.


KIP is a Polish license that allows you to operate on the international market, the limit on the amount of user funds is unlimited. To get it, you have to take permission from the Polish Financial Inspection and make an entry in the registry.

The procedure for obtaining it is more complicated and the preparation of the application itself may take up to several months, but doing business as a KIP opens up many possibilities:

  • making payment transactions (account transfers, cards, cashless payments);
  • issuing payment instruments;
  • accepting and making payments with payment instruments;
  • rendering money transfer services;
  • initiating payment transactions (PIS);
  • accessing account information (AIS);
  • spending electronic money;
  • operating in the European Economic Area.

How to get a KIP

KIP is only issued to a legal entity. It is necessary to have a minimum registered capital, the amount of which depends on the scope of services provided. The managing person should be experienced and educated in managing a payment institution.

Various documents have to be submitted to PFSA, including:

  • data on the owners of the company;
  • the list of the planned services;
  • a program of activities for 3 years;
  • financial plan for 3 years;
  • risk management and internal control system;
  • a bank guarantee or third party liability insurance.

What to do if there is no license from PFI

Without a license, a provider cannot offer payment services. If the PFSA discovers illegal activity, make an entry on the public warning list, report it to the prosecutor's office. For small businesses, this means the end of existence, as banks will quickly find out about it and break the contract with the company.

How to get a cryptocurrency license in Poland quickly

If you want to legally engage in crypto activities in Poland, call IT-OFFSHORE specialists and we will help you.

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