Poland's Crypto Regulatory Stalemate Hinders XTB's Expansion Plans

Warsaw-based online brokerage XTB has stated that the ongoing political impasse in Poland regarding the European Union's Markets in Crypto-Assets (MiCA) regulation is impeding its cryptocurrency business expansion. XTB had intended to launch crypto trading services in Poland but has been forced to put these plans on hold due to the country's delay in aligning its domestic regulations with MiCA.

President Karol Nawrocki has vetoed relevant legislation twice. Financial regulators have warned that domestic institutions might lose their eligibility to offer crypto-asset services if they do not obtain licenses in other EU countries by July 1. As an alternative, XTB is considering applying for a crypto license in Cyprus, though it acknowledges this move could diminish its customer acquisition and marketing capabilities within Poland.

#crypto #blockchain #news