Polish-founded crypto exchange Kanga secured a Class 3 MiCA license from the Bank of Latvia on June 18, enabling it to passport crypto custody, trading, and transfer services across the European Union. The authorization was granted to SIA AlphaRoute, Kanga's Latvian operating entity, following approval by the Bank of Latvia's Supervisory Committee. Kanga began its pre-licensing process in Latvia in November 2025 after evaluating multiple EU jurisdictions, as Poland remains without domestic MiCA implementation legislation with the EU's July 1 transitional deadline approaching. President Nawrocki has vetoed a government-backed crypto bill three times, most recently on June 11, citing provisions he considered overly burdensome for domestic crypto companies.
Kanga Secures MiCA License Through Bank of Latvia
The Bank of Latvia issued the Class 3 MiCA license to SIA AlphaRoute on June 18, positioning Kanga as one of the first Polish-origin crypto firms to obtain MiCA compliance through a cross-border route. The license allows the company to offer crypto custody, trading, and transfer services across all EU member states under the Markets in Crypto-Assets regulation's passporting framework. Kanga began its pre-licensing process in Latvia in November 2025 after evaluating multiple EU jurisdictions for regulatory speed and clarity.
Poland's Legislative Deadlock and Presidential Vetoes
Poland remains without domestic MiCA implementation legislation as the EU's July 1 transitional deadline approaches. President Nawrocki has vetoed a government-backed crypto bill three times, most recently on June 11, citing provisions he considered overly burdensome for domestic crypto companies. Members of the Poland 2050 coalition have since submitted a revised proposal to reduce certain fees and soften some regulatory requirements. Poland 2050 has called for its revised crypto bill to be fast-tracked through both chambers of Parliament.
Zonda Fraud Investigation Adds Pressure on Polish Lawmakers
The legislative stalemate comes amid a fraud investigation into Zonda, Poland's largest crypto exchange. Prosecutors estimate customer losses exceed 350 million zlotys, approximately $92.7 million. The Zonda case has added political urgency to demands for tighter domestic supervision, making it harder for lawmakers to pass the lighter-touch MiCA bill the president has requested.
CEO Dominik Tomczyk Explains Regulatory Strategy
SIA AlphaRoute CEO Dominik Tomczyk told Cointelegraph that the company had planned for the possibility of legislative delays in Poland from the outset. "From the very beginning, we knew that we had to use the transitional period provided for under the MiCA regulation to prepare the organization to operate within the new regulatory framework," Tomczyk stated. The company said it will communicate operational changes and updated service terms to customers through its official channels in the coming weeks.
FAQ
What MiCA license did Kanga receive and when?
Kanga's Latvian entity SIA AlphaRoute received a Class 3 MiCA license from the Bank of Latvia on June 18, allowing it to passport crypto custody, trading, and transfer services across the European Union.
Why did President Nawrocki veto Poland's crypto bill?
President Nawrocki has vetoed a government-backed crypto bill three times, most recently on June 11, citing provisions he considered overly burdensome for domestic crypto companies. Poland remains without domestic MiCA implementation legislation as the EU's July 1 transitional deadline approaches.
