Poland enacts MiCA as $96M Zondacrypto probe widens

Poland this week enacted the European Union’s Markets in Crypto-Assets regulation (MiCA) into national law, aligning domestic rules with the EU framework for crypto-asset markets.

The implementing measures require crypto platforms operating in Poland to register with national authorities, meet capital and custody standards, and follow disclosure rules for issuers of tokens and stablecoins. Polish regulators will have powers to supervise compliance and to impose penalties for breaches.

Separately, prosecutors have broadened a criminal investigation into crypto firm Zondacrypto to cover transactions and assets valued at about $96 million. Investigators are seeking records and tracing asset movements linked to the company, and they are reviewing account activity and communications related to its operations.

Financial crime units and national prosecutors are involved in the inquiry as they assess whether laws were violated in the handling of customer funds or in corporate operations. There was no immediate public comment from Zondacrypto or from Polish prosecutors about the scope of the probe.

MiCA sets rules for a range of crypto-assets, including asset-referenced tokens and e-money tokens, and establishes licensing regimes for crypto-asset service providers. The regulation aims to harmonize consumer protections and operational standards across EU member states while assigning supervision and enforcement to national authorities.

Regulatory sources noted that firms already operating in Poland must apply for authorization or adapt existing compliance programs to meet the new transparency and governance requirements. The changes affect exchanges, custodians and token issuers that are registered in Poland or serve Polish customers.

Lawmakers approved the implementing measures after the EU adopted MiCA to create consistent rules across member states. The national changes take effect as Poland moves to enforce the new requirements and as authorities pursue the criminal inquiry into Zondacrypto.