Poland Halts MiCA-Style Crypto Rules After Lawmakers Fail to Override Presidential Veto
Poland just slammed the brakes on Europe's crypto rulebook.
WARSAW'S REGULATORY ROADBLOCK
Lawmakers couldn't muster the votes to push through the landmark legislation. The presidential veto stands—for now. This leaves Polish crypto firms in a familiar limbo, watching their EU neighbors prepare for a harmonized future.
THE VETO'S VICTORY LAP
The president's office cited concerns over market stability and operational burdens for domestic companies. Critics call it a short-sighted move that prioritizes political posturing over long-term economic positioning. One local exchange founder put it bluntly: "We're being told to compete globally with one hand tied behind our backs."
INVESTOR WHIPLASH
The delay creates immediate uncertainty. Projects eyeing Warsaw as a potential hub are hitting pause. Capital has a funny habit of flowing toward clarity—and away from drama. It's the oldest story in finance: money goes where it's treated best, not where politicians make the most noise.
THE DOMINO EFFECT
All eyes turn to other EU members still finalizing their MiCA frameworks. Does Poland's hesitation signal wider cracks in the consensus? Or is this just a temporary detour? The bloc's dream of a unified digital asset market faces its first real stress test.
Poland chooses the scenic route on the road to crypto regulation—proving that sometimes, the most bullish move in politics is to simply stand still.
Tusk Flags Crypto as National Security Threat Amid Russia Sabotage Claims
Tusk had framed the bill as a national security measure in the days leading up to the vote.
Addressing parliament, he said the unregulated crypto market had become a conduit for money laundering and foreign interference, including activity linked to Russia and Belarus.
He told lawmakers that Polish authorities had identified “several hundred” foreign entities operating in the domestic crypto market and warned that Russian intelligence and organized crime groups were exploiting digital assets for covert financing.
Government officials have tied those concerns to recent security incidents.
Last month, Warsaw blamed Russia for a blast on a key railway route used for supply traffic to Ukraine, an allegation Moscow dismissed.
Polish security services have also cited cases of underground groups allegedly paid in cryptocurrencies to carry out sabotage activities inside the country.
Russia is using cryptocurrencies to pay saboteurs carrying out hybrid attacks across the European Union, according to a Polish security official. #Russia #Cryptohttps://t.co/MsOjIZjSfu
The veto has deepened an already sharp political confrontation between Nawrocki, a nationalist conservative, and Tusk’s pro-European coalition.
The president rejected the bill earlier this month, arguing that it went far beyond EU requirements and threatened civil liberties, property rights, and the stability of the state.
Polish President Karol Nawrocki vetoed a sweeping crypto law, saying it threatens property rights and personal freedoms.#Crypto #Regulationhttps://t.co/BXYSh74MPF
The blocked law WOULD have implemented MiCA-style rules in Poland, introducing licensing for crypto-asset service providers, investor protection standards, stablecoin reserve requirements, market abuse bans, and strict anti-money laundering controls.
It also proposed granting authorities the power to block crypto-related websites through administrative orders, a provision the president described as opaque and vulnerable to abuse.
Political Tensions Rise After Poland Blocks Sweeping Crypto Oversight Bill
Nawrocki also criticized the scale of the bill, which exceeded 100 pages, contrasting it with far shorter implementing laws in neighboring Czechia and Slovakia.
He warned that heavy supervisory fees and added domestic restrictions would drive Polish crypto firms to register in other EU countries, costing Poland tax revenue and talent.
His chief of staff, Zbigniew Bogucki, said on Friday that the president is open to regulation as long as future proposals are not excessively restrictive.
The failure to override the veto leaves crypto companies operating in Poland without a clear national legal framework ahead of the EU’s July 1, 2026, MiCA compliance deadline.
The political dispute has increasingly drawn in industry players.
Nawrocki has portrayed himself as a defender of the crypto sector and was endorsed before his election by Kristi Noem, a senior U.S. official, at a conference in southeast Poland sponsored by trading platform Zondacrypto.
Poland has elected Karol Nawrocki, a conservative who says crypto should be “born in freedom, not buried in red tape.”#poland #cryptohttps://t.co/BVJXhQBnrK
The exchange later stated that it accepts no Russian clients and fully complies with anti-money laundering rules.
Foreign Minister Radosław Sikorski added another dimension to the dispute on Friday, saying on radio RMF FM that the crypto industry sponsors figures across the right wing of Polish politics, explaining the sharp resistance to tighter oversight.
The veto follows months of turbulence around crypto regulation in Poland. In September, lawmakers had initially passed the bill, triggering strong backlash from industry leaders who warned that Poland’s version of MiCA amounted to overregulation.
Zondacrypto’s chief executive at the time described it as a “step backwards” that risked criminalizing Core blockchain development activity.
