Broker XTB says Poland's crypto regulatory deadlock is hindering its crypto business expansion

PANews, February 28 – According to Bloomberg, Polish online broker XTB stated that the local political deadlock surrounding the EU's Markets in Crypto-Assets Regulation (MiCA) is hindering its crypto business plans. XTB had planned to launch crypto trading in Poland, but the initiative has been put on hold due to the country's delay in aligning its regulations with MiCA. Polish President Karol Nawrocki has vetoed the relevant legislation twice, and financial regulators have warned that if domestic institutions fail to obtain licenses from other EU countries by July 1, they may lose their eligibility to provide crypto asset services. XTB is considering applying for a crypto license in Cyprus as an alternative, but noted that this move would weaken its customer acquisition and marketing capabilities in the Polish domestic market.