MiCA and the future of the European digital market
The EU’s MiCA Regulation is entering a decisive phase, and the pace of domestic legislative work is already having a tangible impact on businesses operating in the crypto-asset sector. In his latest article published on Prawo.pl, Wojciech Ługowski discusses the implications of the Polish Financial Supervision Authority’s (UKNF) position and outlines potential scenarios for the Polish market after […]
Between EU regulations and national practice. What about MiCA in Poland?
MiCA is increasingly moving from the level of regulatory assumptions into everyday market practice, raising very concrete questions for entrepreneurs. During the event “Between EU regulations and national practice: What about MiCA in Poland?”, organized by Blockchain Girls & Superteam Poland, Wojciech Ługowski had the opportunity to open a discussion on how the new regulations are actually affecting business […]
When Does a Token Become a Financial Instrument? Practical Criteria Under MiFID II and MiCA
Tokenisation is becoming an increasingly popular phenomenon that attracts innovators. Today’s market encompasses various categories of tokens – from utility tokens, through payment tokens and stablecoins (including EMTs and ARTs within the meaning of MiCA), to investment tokens. The latter may incorporate proprietary or corporate rights and, as a result, be subject to a significantly […]
When Does a Token Qualify as “Electronic Money”? The Boundary Between Stablecoins and E-Money Under EU Law
The growing popularity of stablecoins is making their legal classification increasingly important. A key issue is determining whether a token offered as a “means of payment in Web3” should in fact be classified as electronic money within the meaning of the EMD2 Directive. Why does this matter? As emphasised by Wojciech Ługowski, attorney-at-law and managing […]
Incorporation and Operation of Blockchain Companies in Offshore Jurisdictions – a Regulatory Overview of Selected Jurisdictions: British Virgin Islands, Cayman Islands, Estonia
The development and growing adoption of blockchain technology mean that Web3 projects are increasingly moving rapidly from the conceptual stage to actual business operations. At this point, one of the key decisions becomes the choice of the legal environment in which the project will be developed and, at a later stage, commercialised. When selecting a […]
Blockchain and Payment Services Law – When Does a Crypto Wallet Provider Become a Payment Institution?
The development of blockchain technology is outpacing the pace of regulatory change. This legal gap caused by rapid development often leads Web3 startups (e.g., those developing crypto wallets, payment gateways or DeFi applications) to believe that the legal framework of the “traditional” financial market does not apply to them. After all, if they do not […]
Blockchain Crowdfunding – ICO, STO, IDO. How Do They Differ?
New Funding Models in the Blockchain World Technology startups operating in the blockchain space increasingly rely on alternative forms of raising capital. Instead of traditional financing (e.g. venture capital or business angels), they choose to issue tokens and use crowdfunding models based on distributed ledger technology. The most common models include Initial Coin Offering (ICO), […]
The End of VASPs, Time for CASPs – New Licenses for Crypto Firms in the EU
From July 2026 at the latest, companies operating in the crypto-asset market in the European Union will be required to hold a CASP license. Entrepreneurs who previously provided services as so-called VASPs (Virtual Asset Service Providers) will need to transition and become authorised as CASPs under MiCA. This means not only a change in the […]
How to do Fintech in Poland?
The latest report, How to do Fintech in Poland?, published by FinTech Poland, is a compendium of knowledge for technology companies planning to expand in Poland. Experts from the Lawarton law firm present key regulatory changes that are already affecting fintech strategies in Europe, i.e., the MiCA regulation and the new AML package. Wojciech Ługowski, in […]
Utility Tokens under MiCA – New Obligations from 2025 for Crypto Projects
From mid-2025, crypto projects issuing utility tokens in the EU will face new legal obligations. While regulatory requirements for such tokens remain lighter than for payment tokens, the introduction of the MiCA regulation imposes new duties—including notification and white paper publication. Below is a guideline to the changes prepared by Lawarton lawyers. What regulatory changes […]