Poland applies EU MiCA directly for stablecoins (EMT/ART rules from 30 Jun 2024; CASP rules from 30 Dec 2024), but has not passed the national implementing act. The KNF is competent for EMT issuers through its existing e-money and banking supervision, so a Polish bank or e-money institution can issue an EMT. No authority has been designated for ART issuers or CASPs because the Crypto-Asset Market Act was vetoed three times (Dec 2025, Feb 2026, Jun 2026) and the Sejm failed to override the latest veto on 4 Sep 2026; a fourth government bill is planned. Domestic CASPs lost MiCA transitional status on 1 Jul 2026, while CASPs authorised in other Member States can passport in.
