2026-07-05 · ledger
Ledger published a July 1 update on Poland's MiCA situation and what it means for crypto holders using exchanges. The post highlights that even regulated custodial platforms hold private keys on behalf of users, while self-custody gives holders direct control over their assets.
Ledger noted that Poland remains the only EU member state without implementing legislation for MiCA after another veto in June 2026. Polish platforms can still seek licensing elsewhere in the EU, but holders are urged to understand the difference between exchange custody and holding their own private keys.
When assets remain on an exchange, users depend on that platform's compliance status, operating continuity, and withdrawal process. A wind-down or access disruption may include a withdrawal window, but the user is still exposed to third-party timing, controls, and operational risk.
Hardware cold storage moves private keys out of custodial systems and keeps signing authority under the user's control. By storing keys offline in a secure device, crypto holders reduce reliance on exchange infrastructure and preserve access even when a platform changes operations.
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