The Cryptocurrency Market in the U.S. and Poland – A Comparison of Regulations and Their Impact on Investors

The Cryptocurrency Market in the U.S. and Poland – A Comparison of Regulations and Their Impact on Investors

Cryptocurrencies have ceased to be the domain of technology enthusiasts and have become an important part of the global financial market. However, Poland and the United States have adopted slightly different approaches to regulating this rapidly developing sector. This, in turn, has a direct impact on investors.

Cryptocurrency Regulations in Poland

Activities related to cryptocurrencies are considered legal within the European Union and therefore also in Poland. This was confirmed by the Court of Justice of the European Union in a judgement issued on October 22, 2015 (Case C-264/14)1.

Polish law has been adapting to the rapidly developing cryptocurrency market for several years now. Although virtual assets are not technically recognized as financial instruments, activities in this area are not outside the scope of regulation.

The most important legal act currently regulating services related to cryptocurrencies is the Act on Counteracting Money Laundering and Terrorist Financing2. In practice, entities offering services such as cryptocurrency exchange, brokerage, or storage of digital assets must register as VASPs (Virtual Asset Service Providers) and obtain the appropriate license.

As of December 30, 2024, the MiCA (Markets in Crypto-Assets) is also in force, which harmonizes regulations across the European Union. It also introduces the requirement to obtain a new license – CASP (Crypto Asset Service Provider) – for companies that wish to operate legally in the EU market. VASPs registered before MiCA came into effect have a transitional period until the end of 2025. By that time, they must obtain the new license.

Obtaining a crypto license in Poland is now an essential step for any business that wants to provide compliant and regulated cryptocurrency services within the EU. The regulations aim to increase market transparency, limit money laundering risks, and ensure the safety of cryptocurrency users.

Impact of Polish Regulations on Investors

 

Polish regulations concerning cryptocurrencies have a direct impact not only on companies but also on investors – both individual and institutional. The legalization and regulation of cryptocurrency companies provide investors with greater certainty and protection. VASPs are subject to reporting obligations to the General Inspector of Financial Information (GIIF). which increases the transparency of operations and minimizes abuse.

From an investor’s perspective, it is also important that Poland does not prohibit cryptocurrency trading or ownership. Moreover, registered entities must comply with KYC (Know Your Customer) procedures, which – although they may be seen as an obstacle – in practice limit the operations of fraudsters and financial pyramid schemes.

For institutional investors, the harmonized rules under the CASP license mean greater operational possibilities throughout the EU market thanks to passporting, that is, the ability to offer services in other Member States without the need for additional permits. The implementation of clear regulations and licensing systems in Poland not only fosters the development of the cryptocurrency market but also strengthens investor confidence and protects their interests.

For those interested in this area, it is also relevant to note the statement made by Karol Nawrocki, the President-elect of the Republic of Poland, who has announced support for the development of new technologies and emphasized the need for a cautious approach to regulations that could hinder innovation. This is a signal that the political direction may favor the creation of a friendly ecosystem for investors and entrepreneurs operating in the digital asset market.

The United States – Cryptocurrency Regulations

In the United States, cryptocurrencies have been subject to various regulations depending on the institution involved. Some institutions classified tokens as securities, others as commodities, and yet others required that each transaction involving them be treated as a taxable event.

In recent years, there has been an ongoing debate regarding the need to standardize federal regulations. The lack of clear guidelines concerning the classification of cryptocurrencies has often been criticized by the industry. At the same time, the United States has been a pioneer in implementing AML (Anti-Money Laundering) and KYC (Know Your Customer) requirements for cryptocurrency entities.

Breakthrough in U.S. Cryptocurrency Regulation – Senate Passes Landmark Bill

 

In June 2025, the U.S. Senate passed a landmark piece of legislation known as the Genius Act, which regulates the cryptocurrency market at the federal level. The new regulations clearly define which tokens are classified as securities and which are considered commodities.

The law imposes a registration requirement on cryptocurrency platforms but also includes tax incentives for long-term investors. The introduction of unified standards is intended to improve market transparency and increase consumer confidence.

How Do U.S. Regulations Affect Investors?

 

The new federal law brings order to the market and facilitates cryptocurrency investment planning. Investors benefit from greater legal clarity, and blockchain projects can operate in a more predictable regulatory environment. At the same time, the requirement to register and operate in compliance with the new rules entails additional costs.

On the other hand, the regulatory clarity attracts large-scale investors. The United States is becoming a global leader in standardizing cryptocurrency regulations. This approach fosters greater trust in the market and encourages increased participation from retail investors. Investors also gain access to a more advanced technological and legal infrastructure.

Donald Trump, President of the United States, has expressed his support for cryptocurrencies as a component of economic freedom. However, during his campaign and in public statements, he repeatedly emphasized that he would not allow the introduction of a central bank-issued digital dollar, arguing that it would pose a threat to citizens’ privacy.

Polish and U.S. (Federal and State) Cryptocurrency Regulations – Comparative Table

The table below provides a summary of the most important regulatory aspects in both countries.

Area Poland USA
Legal Status of Cryptocurrencies Legal, but not recognized as legal tender or financial instruments Legal, with unified classification
Key Legal Acts Anti-Money Laundering Act, MiCA Regulation GENIUS Act
KYC & AML Approach Mandatory KYC and AML for VASPs and CASPs; oversight by GIIF Mandatory KYC/AML — the U.S. was one of the first to implement such requirements
Market Development Outlook Strong potential due to regulatory unification in the EU; market open to fintech and startups Growing institutional interest and regulatory harmonization attracts large investors


If you intend to invest in cryptocurrencies in either Poland or the United States, be sure to operate legally. It is advisable to seek legal assistance to understand how to do so properly. This will help protect you and your capital from criminal or tax penalties.

 

References:

  1. Judgement of the Court (Fifth Chamber) of October 22, 2015 (request for a preliminary ruling from the Högsta förvaltningsdomstolen – Sweden) – Skatteverket v. David Hedqvist (Case C-264/14). 
  2. Act of March 1, 2018, on Counteracting Money Laundering and Terrorist Financing (Journal of Laws 2025, item 644, consolidated text). 
  3. Regulation (EU) 2023/1114 of the European Parliament and of the Council of May 31, 2023, on markets in crypto-assets and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (Text with EEA relevance).