Author: FinTax
1 Introduction
At the end of 2025, Poland engaged in intense negotiations regarding the regulatory framework for crypto assets. According to an official announcement from the Polish government, on December 9, 2025, the Council of Ministers approved a draft law on the crypto asset market submitted by the Minister of Finance and the Minister of Economic Affairs. After being vetoed by the President on December 2, the bill was resubmitted with the same wording, resulting in Poland becoming one of the few countries in the EU that has not completed the domestic legislative framework for the Markets in Crypto-Assets Regulation (MiCA). Meanwhile, the EU's Eighth Directive on Administrative Cooperation in Taxation (DAC8) officially came into effect on January 1, 2026. As the EU's local implementation of the OECD's Crypto Asset Reporting Framework (CARF), DAC8 aims to incorporate crypto assets into international tax transparency standards and enhance the depth of cross-border tax cooperation. This directive requires crypto asset service providers to report user transaction data to tax authorities and facilitate information sharing across the EU. Just as MiCA requires member states to cooperate in establishing domestic regulatory mechanisms, DAC8 also necessitates local legislation by member states to ensure that its reporting mechanisms are legally established.
In the context of the global crypto industry accelerating towards clearer transparency and standardized legislation, it is particularly necessary to keep track of key regulatory examples. This article conducts foundational research on Poland's crypto regulation and tax system, aiming to outline the regulatory progress and tax framework in the Polish crypto asset sector. It seeks to help relevant market participants more clearly identify compliance points and potential risks when responding to compliance requirements and implementing high-standard transaction data reporting, as well as to gain a deeper understanding of the complexities of macro policy design.
2 Overview of Poland's Crypto Asset Regulation and Taxation Development
2.1 Overall Landscape
Poland's crypto asset regulatory system is characterized by a "EU framework-led, local legislation connection" approach. The current core task is to advance the domestic implementation of the Markets in Crypto-Assets Regulation (MiCA), but legislative deadlock has arisen due to domestic disagreements. The government led by Prime Minister Tusk maintains a strong regulatory stance, believing that the bill concerns national security and needs to be implemented quickly to meet EU requirements. In contrast, President Nawrożski vetoed the bill, citing the need to protect civil liberties and market innovation. This tug-of-war has resulted in the localization of MiCA not being finalized.
On the regulatory front, Polish authorities are attempting to clarify the role of the Financial Supervision Authority (KNF) as the core regulatory body by advancing the domestic implementation of MiCA, establishing a full licensing system for crypto asset service providers (CASPs). The regulatory scope covers various market entities, including cryptocurrency exchanges, custodial wallet service providers, and token issuers, while making anti-money laundering and counter-terrorism financing (AML/CFT) obligations a core regulatory requirement, mandating CASPs to implement mechanisms for customer identity verification (KYC) and reporting suspicious transactions.
On the taxation front, Poland has formed a differentiated taxation system centered on personal income tax (PIT) and corporate income tax (CIT), clearly defining the core rules of "crypto asset exchange for fiat currency/goods is taxable, while crypto-to-crypto transactions are tax-exempt." A specialized reporting mechanism centered on the PIT-38 form has been established, along with detailed operational standards for cost deductions, applicable tax rates, cryptocurrency donations, and penalties, making the tax system relatively mature and highly operable.
2.2 Development History Overview
Before 2018, Poland lacked systematic legal regulations for crypto assets, and at the official level, cryptocurrencies were not recognized as legal tender or financial instruments, but merely as a form of "property rights." The market lacked specific legislation, relying only on the anti-money laundering law (AML) to provide a preliminary compliance framework. During this time, the Polish Ministry of Finance proposed a 1% civil law transaction tax (PCC) on cryptocurrency transactions, but this was widely contested as it was deemed likely to impose an excessive burden on taxpayers and infringe on property rights, leading to a subsequent decision to suspend its collection.
In November 2018, the Polish government submitted amendments to the Personal Income Tax Law and the Corporate Income Tax Law, explicitly stating that "crypto-to-crypto transactions" are exempt from income tax, while exchanges of crypto assets for fiat currency, goods, or services are subject to a 19% income tax; these amendments officially took effect on January 1, 2019.
In November 2020, Polish authorities released a new PIT-38 personal income tax form specifically for Polish residents to report taxes related to cryptocurrencies, filling a regulatory gap in personal crypto asset tax reporting and improving the personal crypto asset tax reporting mechanism.
In February 2024, the Polish Ministry of Finance released a draft of the Crypto Asset Market Law, officially initiating the localization legislative process for the EU's Markets in Crypto-Assets Regulation (MiCA). The draft was opened for public consultation, with core content including the establishment of regulatory agencies and CASP licensing requirements.
In August 2024, the Polish government published an updated version of the Crypto Asset Market Law, with the core adjustment being the transition period for aligning with MiCA moved up from the end of 2025 to June 30, 2025, requiring market participants to complete compliance adaptation more quickly.
In September 2025, the lower house of the Polish Parliament passed the Crypto Asset Market Law, explicitly designating the Polish Financial Supervision Authority (KNF) as the main regulatory body, detailing the licensing requirements for crypto asset service providers (CASPs) and criminal penalties for violations, and subsequently sending the bill to the upper house for review.
In December 2025, the Polish President vetoed the Crypto Asset Market Law, arguing that the bill was overly regulatory, jeopardized civil liberties, and could stifle market innovation. In the same month, the Polish government resubmitted the Crypto Asset Market Law to Parliament, identical to the original version, resulting in a continued legislative deadlock. Subsequently, the Polish Ministry of Finance completed the public consultation for the localization of DAC8 legislation, clarifying the need to implement the transaction data reporting and sharing obligations of the EU's Eighth Directive on Administrative Cooperation in Taxation (DAC8), which will take effect on January 1, 2026.
On January 1, 2026, the EU's DAC8 officially came into effect, with the first covered year being 2026. Reporting and automatic exchanges between member states must be completed within nine months after the reporting year ends (by September 30, 2027). On December 17, 2025, the Polish Council of Ministers approved the DAC8 conversion draft to amend the Law on Exchange of Tax Information with Other Countries, which then entered the subsequent parliamentary review and publication process. Although the overall process is slightly lagging compared to countries like Germany and France, it is progressing in an orderly manner.
3 Poland's Crypto Asset Regulatory System
3.1 Core Regulatory Agency and Its Functions
Poland has explicitly designated the Polish Financial Supervision Authority (KNF) as the core regulatory agency for the crypto asset market, responsible for comprehensive regulatory work in the crypto asset field. Its core responsibilities revolve around the full lifecycle regulation of crypto asset service providers (CASPs) and also include anti-money laundering enforcement and investor protection tasks. Specifically, at the market entry stage, the KNF is responsible for reviewing core application materials such as the governance structure, capital adequacy level, internal control and compliance management systems, risk management mechanisms, and anti-money laundering (AML) procedures of CASPs. It issues operating licenses to institutions that meet regulatory requirements, covering businesses such as cryptocurrency trading facilitation, custodial storage, key management, token issuance, and related investment consulting. In the ongoing regulatory phase, the KNF has the authority to require licensed institutions to submit standardized business reports quarterly, including key information such as transaction volume, customer numbers, and risk reserve status, and conducts compliance checks through regular inspections or unannounced spot checks. In the case of violations, such as unlicensed operations or breaches of anti-money laundering regulations, the KNF can impose administrative penalties such as fines and business restrictions, and in severe cases, can refer the matter to judicial authorities for criminal accountability. Additionally, the KNF promotes financial innovation and regulatory adaptation in the crypto asset field by establishing innovation centers and issuing non-binding opinions.
In addition to the KNF, the Polish Ministry of Finance, tax authorities (KAS), and anti-money laundering-related agencies — the General Inspector of Financial Information (GIFI) — form a collaborative regulatory system. The Polish Ministry of Finance is responsible for policy formulation in the crypto asset field, leading the advancement of the Crypto Asset Market Law and other localization legislative work for MiCA, supervising the implementation of AML/CTF regulations, and overseeing a broader legal framework for digital assets. It is also responsible for maintaining a register of virtual currency activities and ensuring transparency of ownership; the Polish tax authorities (KAS) serve as the core entity for tax regulation, with core responsibilities including the acceptance of tax declarations related to crypto assets, tax collection, and compliance checks, as well as maintaining a register of crypto asset-related businesses, requiring all crypto asset operators to complete business registration; the General Inspector of Financial Information (GIFI) acts as a collaborative force, working with the KNF and KAS to supervise compliance of crypto service providers with anti-money laundering and counter-terrorism financing laws, receiving and analyzing suspicious transaction reports, and having the authority to impose administrative penalties for violations.
3.2 Main Policy Regulations
Poland's current regulatory provisions for crypto assets can be divided into two categories: the first category includes legislative measures that implement EU crypto asset regulations, such as the draft Crypto Asset Market Law promoted to implement MiCA, primarily used to clarify the division of responsibilities among regulatory authorities, licensing procedures, regulatory measures, and penalty mechanisms at the domestic level; and the draft amendment to the Law on Exchange of Tax Information with Other Countries and several other laws promoted to implement DAC8, which aims to establish a domestic legal basis for the reporting, due diligence, and cross-border automatic exchange of crypto asset transaction data. The second category consists of existing local legal frameworks, including general financial regulatory rules, anti-money laundering and counter-terrorism financing laws, tax laws, etc., which also impose constraints and regulations on crypto asset-related activities from the perspectives of fund compliance, tax reporting, and rights protection.
Specifically, the draft Crypto Asset Market Law serves as the core vehicle for implementing the EU's Markets in Crypto-Assets Regulation (MiCA) at the domestic level, aiming to translate EU-level regulatory requirements into national legal norms. Its core provisions were clearly defined in the version passed by the lower house of Parliament in 2025, including: first, precisely defining the regulatory scope, explicitly including various crypto asset service providers (CASPs) such as cryptocurrency exchanges, custodial wallet service providers, token issuers, stablecoin issuers and operators, and crypto asset investment consulting firms under regulation, while excluding the "securities attributes" designation for cryptocurrencies like Bitcoin that have no issuer; second, establishing a comprehensive licensing system, requiring all CASPs engaged in crypto asset-related businesses to submit registration applications to the Polish Financial Supervision Authority (KNF), obtaining the corresponding licenses after reviewing materials such as corporate governance structure, capital adequacy (with different capital thresholds set based on business type), and compliance systems; unlicensed entities are prohibited from conducting business activities; third, strengthening anti-money laundering and information transparency obligations, mandating CASPs to implement customer identity verification (KYC), retain transaction records (for at least 5 years), and report suspicious transactions immediately, while also requiring quarterly submission of transaction data to the KNF and tax authorities (KAS); fourth, refining investor protection measures, clearly stating that crypto asset advertisements must include a "high risk" warning, prohibiting promotion to minors, requiring token issuers to disclose core information such as white papers and project risks, and prohibiting promises of guaranteed returns; fifth, setting up regulatory assurance mechanisms, including establishing a fee system for licensed institutions based on business scale, and clearly defining punitive measures for violations, with administrative penalties reaching up to 10 million zlotys (approximately 2.8 million USD) and criminal penalties including up to two years of imprisonment, primarily applicable to serious violations such as unlicensed operations, falsifying declaration materials, and leaking customer information. The draft Crypto Asset Market Law is currently still in the legislative negotiation phase, with the core disagreement revolving around balancing the intensity of domestic regulatory implementation with the space for individual digital asset activities.
The controversy surrounding the tax information exchange legislation implementing DAC8 is relatively manageable, focusing on revising the Law on Exchange of Tax Information with Other Countries and several other laws to integrate DAC8's crypto asset information reporting and automatic exchange mechanisms into Poland's domestic legal system. This requires reporting crypto asset service providers within the scope to conduct tax residency identification and due diligence for clients, and to annually report reportable user identity information and tax number information, account and service provider identification information, as well as aggregated data on crypto asset exchanges and transfers by transaction type to tax authorities. Subsequently, the competent authorities will conduct automatic exchanges among EU member states, significantly enhancing the visibility of cross-border transactions and tax transparency, while reducing the concealment space facilitated by platforms.
4 Poland's Crypto Asset Tax System
Currently, Poland has not established a dedicated tax law for crypto assets; its tax treatment primarily refers to the existing tax framework, with the core basis being the Personal Income Tax Law (PIT) and the Corporate Income Tax Law (CIT). Based on this, different income classifications, tax rules, and reporting requirements are applied according to the type of taxpayer (individual or corporate) and the specific business model and nature of transactions.
4.1 Personal Income Tax
In Poland, virtual currency transactions are regarded as the paid sale of virtual currencies (property rights). Regarding the tax rules for individual participants, the division between taxable and tax-exempt situations is clear, with specific tax items, rates, and reporting requirements well-defined. Income generated from the non-business holding or disposal of crypto assets by individuals is generally reported under the PIT system as capital income using the PIT-38 annual summary form, subject to a uniform tax rate of 19%. Taxable events primarily occur when crypto assets are disposed of in exchange for consideration, including three categories: exchanging for fiat currency, using to purchase goods or services or acquire other property rights, and settling debts with crypto assets; however, purchasing cryptocurrencies with Polish zloty, euros, or other fiat currencies, transferring cryptocurrencies between one's own wallets, holding cryptocurrencies, exchanging cryptocurrencies for other cryptocurrencies, and receiving cryptocurrencies through various means such as mining, staking, or airdrops typically do not trigger taxable income.
The tax base is calculated as income minus deductible costs, with deductible items primarily including verifiable acquisition costs and transaction fees or commissions from exchanges or platforms, thereby reducing the taxable income; expenses related to mining equipment and energy, financing costs, and costs associated with the exchange of crypto assets are generally not considered deductible items. Even if no income is realized in the year, taxpayers can still report and carry forward incurred acquisition costs to offset in subsequent years; additionally, if a taxpayer's total income exceeds 1 million Polish zloty (approximately 240,000 euros) for the year, a 4% solidarity tax may also be triggered, thereby increasing the overall tax burden.
4.2 Corporate Income Tax
Corporate participants are primarily subject to corporate income tax, with tax rules and the distinction between taxable and tax-exempt events being similar to those for individuals. The difference lies in that the tax rules for corporate participants correspond to corporate income tax, with two tax rates applied: a standard rate of 19%; if the company has annual revenue not exceeding 2 million euros, it may qualify for a reduced tax rate of 9%. Tax reporting must follow the regular corporate income tax reporting process, with core requirements including separating the accounting of costs related to crypto asset transactions from other operating costs, and not compensating losses from crypto transactions with income from other activities.
4.3 Other Taxes
Regarding value-added tax (VAT), the Polish government does not consider cryptocurrencies as "units of currency, payment instruments, or electronic money," and currently does not include crypto asset transactions within the scope of VAT taxation. Concerning the civil law transaction tax, which has previously sparked controversy, the Polish Ministry of Finance temporarily suspended its collection in 2018, and clarified the following year that crypto transactions prior to July 13, 2018, still required PCC tax payment; however, the Ministry has not subsequently issued related collection policies, and the current application of PCC tax to crypto asset transactions is in a state of suspension.
5 Conclusion and Outlook
Poland's tax and regulatory framework for crypto assets exhibits both transitional and mature characteristics, with a clear overall framework and defined direction. On the regulatory front, Poland is advancing the localization of the EU's MiCA; although the legislative process for the Crypto Asset Market Law draft has faced challenges, the country remains in a transitional regulatory phase. However, it has established a regulatory framework centered on the KNF, with multi-agency collaboration, clearly defining the full licensing requirements for CASPs and core AML/CFT obligations, while simultaneously advancing alignment with the EU's DAC8 to enhance tax transparency. On the tax front, Poland has integrated crypto assets into the existing tax system, implementing differentiated taxation based on participant type and business model, adhering to the main logic of exempting crypto-to-crypto transactions while taxing gains from fiat currency/goods/services exchanges, with clearly tiered tax rates and tax incentives for small and micro enterprises, resulting in a relatively friendly and manageable overall tax environment.
From an industry trend perspective, the compliance and transparency of the crypto sector have become an inevitable trend. If Poland can gradually improve the connection of regulatory legislation and build a flexible regulatory and tax system consistent with EU standards, it will provide market participants with more stable operational expectations, attract high-quality crypto enterprises, and support the healthy development of the industry within compliance boundaries. Meanwhile, with the implementation of DAC8, Poland's cross-border tax cooperation capabilities for crypto asset transactions will continue to improve, further promoting the integration of the local crypto market into the overall European regulatory ecosystem.
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