XTB Secures Cyprus Approval to Offer Spot Cryptocurrency Trading Amid Polish Regulatory Stalemate

XTB has received regulatory approval in Cyprus to provide spot cryptocurrency trading under the EU's Markets in Crypto-Assets (MiCA) framework, allowing the broker to launch services despite ongoing legislative delays in its home market of Poland.

The Cyprus Securities and Exchange Commission (CySEC) authorised XTB's local entity to offer spot crypto services, with initial trading available to clients in Cyprus and plans to expand to other jurisdictions pending regulatory clearance. CEO Omar Arnaout said the move would "allow us not only to enhance our offering but fully test this new feature before the planned rollout to other jurisdictions."

XTB had previously offered crypto CFDs since 2018, but sought spot trading to match competitors already offering direct digital asset trading. Its push for Polish MiCA legislation stalled, with the president refusing to sign a bill passed by parliament, leaving domestic implementation more than 11 months behind the rest of the EU.

Polish industry stakeholders, including XTB, warned that the lack of regulation forced investors to use offshore platforms. Critics described the proposed law as restrictive, citing its 334-page length, a 0.4% gross revenue tax on crypto operators, and broad oversight powers to the Financial Supervision Authority (KNF).

XTB confirmed that it will maintain separate CFD and spot products once the Cyprus trading services launch, allowing continued offerings under the MiCA framework while the Polish legislative process remains unresolved.