PAX Gold in Poland: buying PAXG with złoty

The short answer

Yes, you can hold PAX Gold in Poland, but only through exchanges, not through the issuer. One PAXG represents one fine troy ounce of a London Good Delivery gold bar held for token holders by Paxos Trust Company, N.A. The token itself is not banned in Poland. What is missing is a direct line to Paxos, which says plainly that PAXG is currently unavailable in the EU.

In practice that leaves two routes. You can trade PAXG/PLN on Kanga Exchange, the only złoty market we could confirm on 12 October 2026. Or you can convert złoty to euros and use the PAXG/EUR book on Kraken. Both are secondary markets: you buy tokens that already exist from other users. The live widget above converts the current PAXG price to złoty; for a full chart, see our PAX Gold price page.

Law, regulator and practice

Polish crypto rules are confusing because three different layers say three different things. It helps to keep them apart.

The law. The EU’s Markets in Crypto-Assets Regulation, Regulation (EU) 2023/1114, applies directly in Poland like in every member state. A regulation does not need a national act to be valid. But it does need one to name a national supervisor, set penalties and run licensing. Poland’s Crypto-Assets Market Act was meant to do that. The President vetoed it in December 2025, again on 12 February 2026, and a third time on 11 June 2026. A new bill from Poland 2050 was reportedly filed after June; we found no confirmation that it had been passed by October 2026.

The regulator. Komisja Nadzoru Finansowego (KNF), the Polish Financial Supervision Authority, is the natural supervisor. Without the act, however, it is not designated as the competent authority for most crypto-asset service providers (CASPs). Its role under MiCA is limited to issuers of e-money tokens. So there is no Polish office that can grant an exchange a MiCA licence today.

Exchange practice. The EU’s transitional period ended on 1 July 2026. Since then, exchanges serving Poles rely on a MiCA licence from another member state and “passport” it into Poland. That is legal under MiCA, and it is how most of the market now works. Your best check is the ESMA interim register, which lists authorised CASPs and the countries they notified.

1. Dec 2025First veto

   The President rejects the Crypto-Assets Market Act.

2. 12 Feb 2026Second veto

   A revised version is rejected again.

3. 11 Jun 2026Third veto

   No national MiCA authority for CASPs.

4. 18 Jun 2026Kanga licensed in Latvia

   SIA AlphaRoute gets a MiCA CASP licence (reported).

5. 1 Jul 2026EU transition ends

   Unlicensed CASPs must stop serving EU clients.

What “unavailable in the EU” means for you

On its PAX Gold page, Paxos writes “PAXG is currently unavailable in the EU”. This refers to the primary market: opening a Paxos account, creating new PAXG against dollars, and redeeming tokens for dollars or gold. Paxos’s EU entity, Paxos Issuance Europe Oy, is a Finnish e-money institution that issues the USDG stablecoin under MiCA. It does not issue PAXG.

The secondary market is a different matter. Tokens created elsewhere can still be bought and sold on exchanges that serve Poland, and they still represent the same allocated gold. Paxos does not explain the reason for the restriction. Our reading is that a gold-referenced token would fall under MiCA’s rules for asset-referenced tokens, which require an authorised issuer in the EU; Paxos has not confirmed this, so treat it as interpretation.

For a Polish holder, the practical effects are three. First, you cannot redeem with Paxos yourself, so your exit is always a sale on an exchange. Second, an EU venue could decide to delist PAXG if its compliance team reads MiCA strictly, which would push you to move tokens elsewhere. Third, the gold backing does not change: monthly attestations by KPMG LLP cover all PAXG, wherever it trades.

Where PAXG trades for Polish users

We checked each venue on 12 October 2026, using the exchange’s own API where possible and CoinGecko where the exchange blocked automated requests. Kanga’s PAXG/PLN book showed roughly $18,000 of trading over 24 hours on CoinGecko that day. That is small. It is enough for a few thousand złoty, but a large order would move the price noticeably.

Kanga Exchange is a venue built around the Polish market whose EU business runs through SIA AlphaRoute (“Kanga Exchange EU”) in Latvia. According to press reports, the Bank of Latvia granted it a MiCA CASP licence on 18 June 2026, before the transition ended. It lists PAXG/PLN and PAXG/USDC. Our full Kanga review covers deposits, the order book and the fee page, which we could not fully verify.

Kraken lists PAXG against USD, EUR, BTC and ETH, confirmed through its public API. Secondary sources say Kraken holds a MiCA licence from the Central Bank of Ireland; confirm that on the ESMA register. The euro book is deeper than any złoty market, but your bank will convert PLN to EUR first, and that spread can cost more than the trading fee. Compare all options on our PAXG exchanges list.

Global venues such as Binance offer PAXG/USDT but no złoty pair. Buying through a stablecoin adds a step: złoty to USDT, then USDT to PAXG, each with a spread.

A warning about Zondacrypto

Many Poles still know Zondacrypto by its old name, BitBay. We do not recommend it for PAXG or anything else right now. The exchange is operated by BB Trade Estonia OÜ. In 2026 the Estonian Financial Intelligence Unit partially suspended its licence, and one news report says the licence (FVT000209) was revoked on 29 June 2026. We found that revocation in a single source only, so we cannot confirm it independently. Separately, the regional prosecutor’s office in Katowice has opened a criminal investigation (case 2003-2.Ds.14.2026), as Cointelegraph and crypto.news reported.

We also could not verify that Zondacrypto lists PAXG at all: its API timed out and aggregators showed no market. If you still hold funds there, read official statements from the Estonian FIU and the Polish prosecutor rather than social media.

Poland, the NBP and gold

Poland has become one of the most important names in the official gold market. According to the World Gold Council, Narodowy Bank Polski (NBP) was the largest central-bank buyer in 2025, adding 102 tonnes while total central-bank purchases reached 863 tonnes. Brazil, Kazakhstan and China followed. Central banks bought another 289 tonnes in the second quarter of 2026, the strongest Q2 on record.

For private savers, gold usually means coins and bars from Mennica Polska or a bullion dealer. That works well, but it has frictions: dealer spreads, storage at home or in a safe-deposit box, and selling back in person. PAXG solves a different problem. It gives you a claim on allocated gold in London that you can buy for a few hundred złoty, move to a self-custody wallet, and sell on a Sunday. It does not give you a coin in a drawer. Our PAXG vs physical gold comparison goes through the trade-offs.

Remember that PAXG follows the dollar gold price. If the złoty strengthens against the dollar, your PLN return can be lower than the gold chart suggests, and the reverse when the złoty weakens. Our gold calculator converts ounces to grams and złoty.

Tax: 19% and PIT-38

We could not re-fetch the Ministry of Finance’s crypto page on 12 October 2026, so this section follows the Ministry’s general rules for virtual currencies as we understand them. Please confirm the details on podatki.gov.pl or with a doradca podatkowy. This is not tax advice.

Income from selling virtual currencies for fiat money, or using them to pay for goods and services, is taxed at a flat 19% personal income tax. The tax base is revenue minus documented acquisition costs. You declare it once a year on PIT-38, separately from your salary. Exchanging one crypto-asset for another, for example USDT for PAXG, is generally not a taxable event, which matters if you buy PAXG through a stablecoin.

Worked example (illustrative). You buy PAXG for 8,000 zł in March, paying with złoty on Kanga, and sell it for 9,500 zł in November. Your revenue is 9,500 zł and your cost is 8,000 zł, so income is 1,500 zł and the tax at 19% is 285 zł, declared on the following year’s PIT-38. Keep exchange statements and bank confirmations; they are your proof of cost.

One open question is whether a gold-backed token is always a “virtual currency” in the tax sense. We think it most likely is, but we found no ruling specific to PAXG. If you hold a large position, ask for an individual interpretation (interpretacja indywidualna) or a professional opinion.

How to buy PAXG from Poland

The steps below assume the złoty route on Kanga. On Kraken the flow is the same, except you send euros by SEPA. Our general how-to-buy guide explains order types in more detail.

1. Check the licence

   Look up the exchange’s legal entity on the ESMA register and confirm Poland is in its passporting list.

2. Open and verify an account

   Expect ID verification and questions about the source of funds. Use your own name and bank account.

3. Fund in złoty

   Deposit PLN from a Polish bank account. Check the deposit fee and time on the exchange’s own fee page.

4. Buy PAXG/PLN

   Use a limit order on a thin book so you do not pay a wide spread. Buying 0.05 PAXG is a reasonable first step.

5. Withdraw to your wallet

   Send PAXG on Ethereum to a wallet you control. Double-check the official contract address before your first transfer.

6. Keep records

   Download a statement of every purchase and sale for PIT-38 the following spring.

You may have seen CEX.IO, a long-running exchange in business since 2013 that lists PAXG. As of its terms dated 1 July 2026, it does not onboard new EU or EEA users while its Spanish entity’s MiCA application is under review, so it is not a route for new Polish customers today.

Local risks to watch

The biggest risk in Poland in 2026 is not the gold, it is the venue. With no national supervisor for CASPs, Polish authorities have fewer tools to act quickly when an exchange gets into trouble, as the Zondacrypto case shows. A foreign MiCA licence gives you a supervisor in another country, which is better than nothing, but complaints will go through that country’s rules.

Second, liquidity. A thin PAXG/PLN book can show a price several percent away from the dollar gold price at quiet times. Compare Kanga’s quote with the live price above before you click buy. Third, issuer and smart-contract risk: Paxos can freeze tokens and upgrade the contract, which we cover in is PAX Gold safe. Finally, impersonation. Fake “PAXG” tokens and phishing sites target Polish speakers too. Use bookmarks, not search ads, and verify the token contract on Etherscan.

If you live near the German border or bank in euros, our Germany guide covers the same EU rules from a German angle, and the countries hub compares all markets we track.