In the fiercely contested race to become the European Union’s crypto hub, Poland currently holds the lead, boasting almost twice as many registered crypto companies as its closest competitor, Lithuania. However, the landscape is evolving, and other countries, like France, are strategically positioning itself to surpass Poland and claim the coveted title.

A recent analysis of the crypto sector in the EU had revealed that nearly half of the 2,000 registered crypto companies in the 27-nation bloc call Poland home. The Eastern European Virtual Currency Business Registry continues to attract new ventures at a steady pace.

So, what sets Poland apart?

Poland's allure lies in its straightforward registration process, requiring only two weeks and minor investments for a crypto venture. This minimal state-issued fee serves as the basic registration cost, with potential additional compliance expenses for firms. Notably, there's no obligation for companies to establish physical operations, and the bonus is that setting up foothold in Poland facilitates easier access to the broader European market. Poland currently leads top six EU countries in the number of registered crypto firms.

Despite Poland's current dominance, the impending Markets in Crypto-Assets law (MiCA) poses a potential challenge. The MiCA law, scheduled to take effect in December 2024, is set to bring clarity and regulatory changes to the burgeoning digital assets industry in the EU. Crypto outfits are currently restricted from soliciting customers in other EU nations without obtaining the necessary approvals, but this is expected to change with the implementation of MiCA.


In the midst of this evolving landscape, France is actively taking steps to leapfrog Poland and position itself as the EU's crypto hub. By aligning its registration process with the forthcoming MiCA law, France aims to establish itself as a prominent player in the continent's crypto scene.


As the competition intensifies and regulatory changes loom, the battle for supremacy among EU countries in the crypto arena promises an exciting and transformative journey. Stay tuned as we witness these contenders vie for the coveted title of the European Union’s crypto hub.


BMP Global provides its expertise in setting up a company in Poland with Virtual Asset Service Provider (VASP) authorization. Get in touch with us for more information.