Poland has a chance to be a cryptocurrency hub. "It's not a niche anymore"

Although a few years ago cryptocurrencies were associated mainly with a technological curiosity or a speculative bubble, today they are an increasingly real element of the global economy. "We can talk about a real mainstream," argues Łukasz Pierwienis, CEO of Binance Poland, in an interview with WNP during the European Economic Congress in Katowice.

According to data from the Accenture report , the number of crypto-assets users in Poland reached 3 million a year ago . – Today, this number may even reach 4 million. For comparison, there are about 5 million brokerage accounts in Poland, of which a significant portion of investors also have exposure to the crypto market – notes Pierwienis. This means that the adoption of digital assets in Poland is already very advanced, and society is open to new financial technologies.

The CEO of Binance Poland draws attention to the dynamic development of the stablecoin market, the value of which in 2024 reached $15 trillion – almost as much as Visa. – This shows that cryptoassets are not only catching up, but have already equaled traditional payment giants – he says.

The problem remains the lack of local regulations implementing the MiCA regulation.

Compared to Europe, Poland is ambivalent. On the one hand, it ranks 24th in the world in terms of crypto adoption, ahead of countries such as Italy, the Netherlands and Australia. On the other hand, it is one of the few countries that has not yet implemented local regulations enabling the application of the MiCA regulation. "This is why we are losing our competitive advantage and delaying the possibility of attracting global players," warns Pierwienis.

However, this delay may become an advantage. - We can learn from the mistakes of other countries and create a more friendly and modern system - suggests the president. An example here is Blik, which was created despite delays in implementing the earlier PSD2 directive.

An important opportunity may also be the deregulation initiative – it includes a separate section devoted to blockchain technology and the crypto-asset market. – If we manage to simplify the act and avoid an overgrowth of form over substance, Poland may yet join the European leaders – sums up Łukasz Pierwienis.