The global cryptocurrency market is expanding quickly, especially in Asia, with the United States also accelerating under Trump’s second term. Europe has focused on regulation, raising concerns about whether excessive rules will harm innovation and competitiveness. Cryptocurrencies, led by Bitcoin since 2009, have grown from niche alternatives to mainstream financial products, attracting investors, institutions, and lawmakers.
In the European Union, cryptocurrencies fall under the MiCA directive, requiring separate customer wallets, regular audits, registration fees, and identity verification rules. These measures aim to bring digital assets closer to banking standards but impose higher compliance costs on businesses. Supporters of MiCA argue regulation creates stability, while critics warn excessive restrictions may discourage entrepreneurs.
Polish Overregulation Threatens Domestic Innovation
Poland has not yet implemented MiCA fully, but its draft law is tougher than the EU directive. Industry voices warn it risks stifling local fintech companies through steep fees and short adjustment periods. Some firms may shut down or move abroad, serving Polish customers from outside national jurisdiction. Polish-origin exchange Zondacrypto chose to register in Estonia, citing friendlier conditions. Despite most employees being Polish, the company now pays millions in VAT abroad.
Experts argue Poland is missing a chance to position itself as a leader in crypto innovation. Instead, rigid regulations push businesses to relocate while customers remain open to digital assets. Entrepreneurs stress that Europe intended MiCA to create a unified market, but uneven national approaches still cause barriers. Without reforms, Poland and even Europe risk losing competitive ground to Asia and the United States.
