Poland’s parliament, the Sejm, has but to cross a home enabling act for the EU’s laws on cryptocurrencies.
The parliament has once more didn’t override a presidential veto on a key crypto regulation invoice. President Karol Nawrocki defended his veto, citing issues over extreme regulation that would hurt small companies. Opponents state that the dearth of framework makes the Polish market susceptible to fraud and free-for-all for illicit actors. The political path ahead is unclear.
Exterior the political area, the truth is that Poland is the one EU member state left to implement the bloc’s Markets in Crypto-Belongings (MiCA) regulatory framework. The deadline for the transitionary interval ends on July 1.
This already makes it tough for native companies to remain aggressive in Europe. However after July 1, if an answer isn’t forthcoming, it will likely be unattainable. Some are already taking their enterprise elsewhere and transferring overseas.
Crypto business, Polish president declare invoice is burdensome
In November 2025, the Sejm handed the Crypto-Asset Market Act, which might replace Polish legislation to adjust to MiCA.
Native enterprise teams weren’t happy with the outcome. In an October letter, the Warsaw Enterprise Institute, a business-focused suppose tank, outlined just a few of the perceived issues with the legislation.
First was the size. Together with draft secondary laws, the entire size was properly over 300 pages. The Warsaw Enterprise Institute stated that, whereas different EU member states had been glad with only a few dozen pages, “the Polish legislation has a number of hundred articles and gives for added laws.”
It stated the act introduces “a ban on advertising actions associated to fundamental cryptocurrencies and the potential for blocking web sites by administrative determination, with out the suitable to attraction to a court docket.”
“Such options should not justified by MiCA and put Polish firms in a worse aggressive place in comparison with entities working in different EU international locations.”.
Of additional concern was the position the Polish Monetary Supervision Authority (KNF) would play below the brand new regime. Beneath the legislation, the KNF could be the only real regulator of the complete crypto market. It could have the ability to levy heavy fines in addition to keep and implement a blacklist of “unreliable” crypto domains that Polish ISPs must block.
Not solely would the KNF be extremely highly effective, however it’s already notoriously gradual. In response to a fee establishment peer assessment by the European Banking Authority, the KNF’s authorization instances had been the slowest in Europe. In an October letter, the Warsaw Enterprise Institute claimed that the KNF has solely issued two licenses for brokerage homes within the final 10 years. In the identical time interval, it has solely issued one digital cash establishment license, whereas Lithuania has registered over 100.
Associated: EU crypto companies flip to authorized assist as deadline for MiCA compliance nears
On Dec. 1, 2025, Nawrocki vetoed the legislation, citing bloated regulation. The federal government didn’t override the veto, after which reintroduced the very same invoice. Nawrocki vetoed the invoice for a second time in February, and on April 17, the Sejm repeated itself in failing to overrule the veto.
Polish parliament struggles to seek out path ahead for MiCA
The battle over the crypto invoice exhibits no indicators of stopping.
Firstly, for Nawrocki, passing the invoice after being reintroduced in the identical type would have introduced a political downside.
Piech instructed Cointelegraph, “As soon as the president had already argued that the invoice breached constitutional ideas and contained extreme, disproportionate and imprecise provisions […] signing a near-identical model would have meant contradicting his personal said reasoning.”
“In that sense, the second push appeared much less like compromise and extra like an try to strain the president right into a constitutional U-turn.”
Some within the crypto business hailed the veto as Nawrocki sticking to his pro-crypto, sound regulatory ideas.
“The veto just isn’t anti-regulatory, it brings widespread sense again into the law-making course of. […] The business didn’t ask for privileges. It requested for proportionality,” stated Sławomir Zawadzki, co-CEO of Kanga Trade.
Totally different coalitions and teams have tried to introduce their very own variations. In response to Piech, Finance Minister Andrzej Domański stated that the federal government began work yesterday on options for a brand new crypto-asset invoice.
In December, after the primary veto, the Polska 2050 political celebration introduced “an improved draft that could be a step ahead from the President’s arguments, which, though far-fetched, are maybe value contemplating.”
Nawrocki himself has stated he would submit a draft however the speaker within the Sejm has blocked the introduction of presidential proposals.
The Confederation of Liberty and Independence and the Legislation and Justice have filed variations, whereas one other political coalition, the Heart Membership, introduced it could put together one other draft.
General, Poland’s political class is “nonetheless deeply cut up on crypto.”
“That is now not only a technical argument about implementing MiCA. It has turn into a broader battle over whether or not crypto needs to be introduced into a traditional authorized framework, or handled as a politically suspicious sector that may be overregulated, stigmatised or used as a proxy battlefield after the Zonda Crypto controversy,” he stated.
Polish Prime Minister Donald Tusk, himself a member of the Civic Coalition, has accused native alternate Zonda Crypto of illicit funding and ties to Russian prison networks. It has undergone a funding disaster, pausing withdrawals, and has reportedly lobbied in opposition to the invoice.
Associated: Zonda alternate says 4.5K BTC pockets inaccessible amid withdrawal disaster
Tusk additionally claimed that it “sponsors political and social occasions in Poland and promotes very particular political forces,” together with the opposition far-right Legislation and Justice celebration, of which Nawrocki is a member.
Zonda Crypto didn’t reply to Cointelegraph’s request for remark.
Polish crypto firms look overseas
For firms in Poland, passing a brand new legislation by the top of the MiCA transitional interval on July 1 could also be a case of shutting the barn doorways after the horses have bolted.
Mentioned Piech, “A brand new legislation should matter institutionally, particularly for banks and bigger monetary establishments which will need to enter crypto as soon as there’s a clear authorized path. However for all current Polish crypto companies, it’s already very late.”
Some home crypto companies are already trying overseas. Crypto alternate Kanga is contemplating a transfer to Latvia, “a rustic whose representatives have brazenly used conferences in Poland to draw crypto companies, providing a MiCA-friendly regime, quicker procedures and comparatively low supervisory charges,” per Piech.
Robert Wojciechowski, president of the Polish Chamber of Commerce for Blockchain and New Applied sciences, stated, “Since we based the chamber, about 70-80 % of firms have sailed overseas. Now my colleagues say they’re speaking to the Czech Republic to maneuver their enterprise there.”
The Chancellery of the President has itself raised the alarm, stating that, “Overregulation is a assured strategy to push firms overseas — to the Czech Republic, Lithuania or Malta — as an alternative of making situations for them to function and pay taxes in Poland.”
Zonda Crypto CEO Przemysław Kral has beforehand instructed Cointelegraph, “Though we’re an organization with Polish roots and the most important participant within the crypto business on the Polish market, we’ve got been working outdoors Poland for years.”
“We’re assured that we are going to stay a key participant in the marketplace. Nevertheless, many small Polish crypto firms will lose the chance to function in the marketplace,” he stated.
Now it’s a race in opposition to the clock, as July 1 attracts nearer. Piech doesn’t see a “life like probability” for a invoice to cross, and if it doesn’t, “home companies with out a functioning Polish route are left at a structural drawback.”
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