EBA No Action Letter on the interplay between PSD2 and MiCA Regulation
On 10 June 2025, the European Banking Authority (‘EBA’) published a No Action Letter on the interplay between PSD2[1] and the MiCA Regulation[2] in re...
Regulatory Technical Standards specifying the information in an application for authorisation to offer asset-referenced tokens to the public or to seek their admission to trading
On 5 June 2025, the European Commission adopted the Commission Delegated Regulation (EU) supplementing Regulation (EU) 2023/1114 of the European Parli...
Further consultation papers on the approach to regulating crypto-asset activities in the United Kingdom
On 28 May 2025, the Financial Conduct Authority (“FCA”) published further consultation papers on the proposed approach to regulating crypto-asset acti...
Continued work on the legal framework for stablecoins in the United States
On 20 May 2025, the U.S. Senate broke the filibuster associated with the work on the GENIUS Act (Guiding and Establishing National Innovation for U.S....
New version of draft Polish Act on Crypto-Assets Market
On 14 May 2025, the latest version of the draft Polish Act on Crypto-Assets Market was published on the Government Legislation Centre portal, together...
Consultation paper outlining the proposed approach to regulating crypto-asset activities in the United Kingdom
On 2 May 2025, the Financial Conduct Authority (‘FCA’) published a consultation paper aimed at outlining the proposed approach to regulating crypto-as...
Innovation Hub
Through the Innovation Hub program, the supervisory authority conducts a dialogue with entities from the FinTech sector, providing them with appropriate explanations for their inquiries, thus supporting the development of modern technologies on the financial market while maintaining safety and adequate protection of customers.
Za pośrednictwem programu Innovation Hub organ nadzoru prowadzi dialog z podmiotami sektora FinTech udzielając im stosownych wyjaśnień na zadane zapytania, wspierając tym samym rozwój nowoczesnych technologii na rynku finansowym przy zachowaniu bezpieczeństwa i odpowiedniej ochrony klientów.
VIRTUAL SANDBOX
The launch of Virtual Sandboxes aims to support the development of the Polish financial innovation market and implements the tasks set out in the Digital Supervisory Agenda. It is also the first stage of development of the KNF's offer regarding technological support for entities from the FinTech sector in the formula of virtual specialized sandboxes.
Virtual Sandbox PSD2
The Virtual Sandbox PSD2, made available to interested entities, allows you to simulate a number of banking operations and test solutions based on the Open API interface, compliant with the Polish API standard. An entity planning to offer an innovative financial payment service may apply to the Innovation Hub Program, where it will be able to consult its idea and then test it in a sandbox.
Virtual Sandbox Blockchain
On March 17, 2021, the Polish Financial Supervision Authority (UKNF) signed an executive agreement with the National Depository for Securities (KDPW), which is a continuation of the Cooperation Agreement of 2019. The agreement defines the principles of cooperation in launching the Sandbox DLT ICT environment and supporting its development. This is a consequence of the activities carried out under the Agreement, in which the institutions expressed their will to cooperate in the area of supporting the development of the Polish financial innovation ecosystem.
So far, business analyzes have been carried out to create the environment and the infrastructure at the UKNF has been separated, on which the environment based on Hyperledger Fabric was launched for the purpose of carrying out the Proof-of-Concept of the Sandbox DLT project.