Polish President Karol Nawrocki vetoed for the third time the bill aiming to transfer the European Union’s Crypto Asset Markets Regulation into the country’s law. The decision once again postponed Poland’s harmonization with the EU-wide framework on crypto assets.
Veto justification and political tension
Nawrocki said on Thursday that he supports regulation of the cryptocurrency market, but only one of the 16 significant changes his office proposed was included in the text. According to the President, the final draft was almost indistinguishable from the two texts he had previously rejected.
Prime Minister Donald Tusk stated in his X post that the president vetoed the cryptocurrency law again and argued that this situation points to a more complex picture than expected.
This step has further highlighted the political disagreement over how to regulate crypto assets in the country. The decision came after the Polish parliament failed to overcome Nawrocki’s second veto nearly two months ago. In the vote in April, MPs failed to reach the 263 votes required to override the veto.
Uncertainty increases as the MiCA calendar approaches
The third veto came weeks before MiCA’s transition period, which ends on July 1. After this date, crypto asset service providers will either need to obtain a MiCA license or stop serving customers in the European Union.
Mini dictionary: MiCA is the European Union’s regulatory framework that introduces common rules for crypto asset issuers and service providers. This structure aims to harmonize licensing, consumer protection and auditing standards throughout the union.
Poland is the only EU member state that has not transposed MiCA into domestic law. After July 1, Poland-based crypto asset service providers without a MiCA license may lose the legal basis to provide services to EU customers.
| Title | Situation |
|---|---|
| Poland’s MiCA compliance | Not completed yet |
| End of transition period | July 1 |
| Unlicensed service providers | May have to stop service to EU customers |
Impacts on government and industry
News reports of Nawrocki’s veto quoted the president as objecting due to excessive regulation, limited transparency and potential burden on small businesses. In response, government officials warned that the delay made consumers and companies more vulnerable to the risks of fraud and abuse.
The government side emphasized that the delay in regulation creates a protection gap for both consumers and businesses.
The decision comes amid intensifying scrutiny of Poland’s crypto sector. It has been reported that prosecutors are conducting an investigation into Zonda, one of the country’s major cryptocurrency exchanges, involving approximately 2,000 customers and involving suspicion of fraud and money laundering. It was reported that the allegations also included suspicion of connections with Russian organized crime structures.
Zonda CEO Przemysław Kral denied the accusations that customer funds were used improperly. Zonda is known as one of the leading cryptocurrency platforms based in Poland.
