Poland’s cryptocurrency market faces fresh uncertainty after President Karol Nawrocki vetoed a controversial crypto bill for the second time. The decision delays efforts to align national regulations with the European Union’s Markets in Crypto-Assets framework, also known as MiCA.
Lawmakers passed the Crypto-Asset Market Act earlier this year. However, the president rejected it on Thursday, arguing that the revised version failed to fix earlier flaws. He previously vetoed a nearly identical bill in late 2025.
Why the President Rejected the Bill
President Nawrocki said the updated proposal did not address his core concerns. He stressed that signing a flawed law would not serve Poland’s long-term interests. According to his statement, minor edits did not resolve deeper structural issues.
The proposed law aimed to bring Poland in line with EU crypto regulations. It would have granted broad authority to the Polish Financial Supervision Authority, known as the KNF. Under the bill, the regulator could:
- Suspend or ban public crypto offerings
- Block websites linked to suspected violations
- Impose heavy fines and criminal penalties for noncompliance
Supporters argue these powers would protect investors and reduce fraud. However, critics fear excessive oversight could hurt innovation and push crypto firms to relocate.
Industry Reaction and Political Tension
The ruling coalition expressed frustration with the veto. Government officials claim the delay weakens investor protection in a fast-growing digital asset market. Furthermore, they warn that Poland risks falling behind other EU states implementing MiCA.
Meanwhile, Poland’s crypto community remains divided. Some entrepreneurs support the veto, saying strict rules could suffocate startups. Others worry that ongoing legal uncertainty leaves investors exposed.
The bill now returns to parliament for reconsideration. Lawmakers may attempt amendments or seek enough votes to override the veto. With the EU’s MiCA implementation deadline approaching, Poland must act soon. Therefore, the next round of negotiations could shape the future of crypto regulation in the country.
