MiCA Transition Ends, Polish Crypto Faces Survival Crisis

The end of the transition period shifts MiCA from a future compliance exercise into an immediate licensing threshold, and the burden falls hardest on smaller Polish operators that lack the legal and capital infrastructure the framework assumes. The near-term effect is consolidation pressure rather than a change in the underlying EU market. Whether Poland's domestic crypto sector contracts sharply or firms relocate and re-domicile within the bloc is the open question, and it will be an early signal of how unevenly MiCA is absorbed across member states.