How to get a cryptocurrency license in Poland 2022

How to get a cryptocurrency license in Poland 2022

Since November 2021, crypto-business in Poland has become a regulated activity, so organizations that engage in it must be entered into the Cryptocurrency Business Register, obtain a license. If they fail to do so, they will pay a fine of up to 100 thousand zlotys. Read how to get a cryptocurrency license in Poland in this article.

Peculiarities of the Polish license

Registration is subject to activities in such areas:

  • exchange of one digital currency for another virtual or real currency;
  • intermediary services for the exchange of digital currencies;
  • digital money storage;
  • transactions.

In addition, it is necessary to take a MIP or KIP license. Otherwise the cryptocurrency company will not be able to provide payment services. If the regulator notices illegal activities, he or she will put an entry in the public lists, which will lead to banks refusing to cooperate and a collapse for the crypto-business.

Who can get a cryptocurrency license

The license is issued to both individuals and legal entities that meet certain criteria. The main requirement is the absence of a criminal record for crimes related to:

  • the violations against the state, including self-government, justice;
  • the forgery of documents;
  • property claims;
  • the money and securities fraud;
  • any financial irregularities.

Documents on the beneficiaries and directors of the company are carefully checked. If there is a problem, the license is not issued.

Another requirement for licensees is that cryptocurrency companies must have knowledge and experience related to cryptocurrency activities. It can be confirmed after providing:

  • certificates of courses that cover the financial and legal aspects of cryptocurrency operations;
  • certificates of work in the cryptocurrency industry for at least 1 year.

How fast is the registration process

Entry to the Polish Virtual Currency Registry will be made within 2 weeks after the individual/legal entity submits the documents.

Obtaining a MIP or KIP license

After registration, the cryptocurrency company must go to the Financial Inspection Authority (FI) and take one of the two licenses:

  • MIP - small payment institution;
  • KIP - a national payment institution.


For a startup, an MIP is fine. To get a cryptocurrency license in Poland 2022, you need to specify the services that you plan to provide, a detailed business project, and develop methods aimed at protecting users. The license is issued within a month.

The company which has received the MIP, has the right to:

  • provide the user with a virtual wallet, keep up to €2 000 on his/her account;
  • conduct transactions of up to €1.5 million per month;
  • to develop and implement payment instruments;
  • accept payments;
  • exchange currencies;
  • offer credit.

The company is not allowed to issue its own tokens and operate in other countries.


To enter the European market, you need to get a KIP. The procedure is complicated, but the license allows you to work with EEA residents, as well as keep an unlimited number of funds in your wallets.

To get a KIP, you have to submit to the regulator the following:

  • information about all owners of the cryptocurrency company;
  • the services the organization will provide;
  • a business project for 3 years;
  • information about the methods of protection of users' funds;
  • a guarantee from the bank.

The license is given only to a legal entity. The director of the company must have not only relevant work experience, but also education related to the management of a payment institutions.

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