MiCAR deadline for VASPs is approaching: What to do now
Working with virtual assets will soon undergo significant changes. If you have been doing business in Poland, according to the Regulation on Cryptoasset Markets, you will need to apply for a Cryptoasset Service Provider (CASP) licence. This is a mandatory requirement to continue working with clients from Europe.
You have about a year to submit your application: EU countries have set a deadline of 1 July 2026 for accepting applications. If you do not submit an application, you will no longer be able to continue doing business with virtual assets. Those who work in Poland should pay particular attention to this news. Due to the political situation, it is not yet clear how exactly the transition to CASP will take place, and the details of the procedure will also be announced later. Despite the complicated procedure and uncertainties, it is possible to obtain a licence to work with virtual assets in Poland, and we will help you with this.
In this article, we will look at what will change with the transition to CASP in Poland and whether you can opt out of this procedure.
Transition from VASP to CASP: what you need to know
So, the key differences between CASP:
- Working with VASP was regulated at the national level. The main objective of such regulation was to prevent virtual assets from becoming a means of money laundering. Authorisation in CASP is a more complex procedure that can take up to 15 months.
- The minimum initial capital for CASP is €50,000 for class 1 services, €125,000 for class 2 services, and €150,000 for class 3 services.
- CASP requires thorough verification of individuals involved in the virtual asset business, both natural and legal persons. Their suitability for business management and current capital are assessed. Permanent capital must be 25% of expenses.
- A minimum of two persons residing in Poland and a local office with employed staff are required.
- An impressive package of documentation will be required, ranging from documents confirming IT stability to papers ruling out conflicts of interest and market abuse. You are obliged to protect consumer rights, store and review their complaints, and this must also be documented.
- Reporting is mandatory and regular.
The above requirements for working with virtual assets in Poland are quite serious and not easy to comply with. However, with our mediation, you will get the desired result. It is possible to obtain a new licence, and we are ready to prove it. We are familiar with all the nuances and pitfalls of the transition, so we have taken everything into account to speed up the process. We will walk you through the entire process step by step, and the result will be obtaining CASP in Poland and new opportunities for your business.
Changes in working with virtual assets in the EU: what to do
In fact, CAPS is a single international standard that requires compliance by everyone who works with crypto assets in Europe. The good news is that authorisation in the new system will allow you to work in all 27 European countries under the same conditions. In addition, stricter requirements will lead to increased trust from customers and investors. And that means additional opportunities for scaling up.
The transition will require your time and certain investments, but with the support of professionals, this procedure will not hurt your business; on the contrary, it will open up new opportunities.
What to do now
Either way, if you want to continue working with crypto assets in Poland, you will have to choose a new licence to apply for. The best option is to apply for a CASP licence under MiCAR. This will entail new obligations and require compliance with all the intricacies of the transition, but you do not have to understand all the details. With our support, you will successfully complete the licence renewal process and be able to continue working with clients in Europe.
We recommend that you do not put off the transition: you need to obtain a new licence in less than a year, and the process will take time. To do everything calmly, start acting now. We provide assistance at every stage: from gathering documents to submitting them and providing consultations available at any time.
We help you obtain a licence that is valid in all European countries and support you in developing your payment infrastructure.
