Poland’s Crypto Regulation Bill Faces Third Presidential Veto

Polish President Karol Nawrocki has vetoed a cryptocurrency regulation bill for the third time, citing overregulation, excessive powers granted to the Financial Supervision Authority (KNF), and insufficient consumer protection. The veto leaves Poland as the only EU member state without a national framework implementing the bloc’s Markets in Crypto-Assets (MiCA) rules, just weeks before the July 1 compliance deadline.

Nawrocki emphasized that only one of his 16 proposed modifications was adopted, calling the legislation "bad law" that doesn’t improve with repetition. He signaled willingness to sign if parliament incorporates stronger judicial oversight, shorter crypto account freezes, and expanded state liability for unlawful actions.

The ongoing deadlock creates regulatory uncertainty for crypto markets as Poland risks non-compliance with EU standards. Market participants await clarity on whether the Sejm will revisit the bill with presidential amendments or face last-minute scrambling to meet MiCA requirements.