Poland’s Crypto Law Fight Continues
Polish lawmakers once again failed to override the president’s veto, keeping a crucial crypto regulation bill in limbo. The vote on Friday required 263 approvals to pass, but only 243 MPs voted against the veto, while 191 supported it. The bill—championed by the prime minister—aims to align Poland with the European Union’s new Markets in Crypto-Assets Regulation (MiCA). Currently, Poland remains the sole EU member that has not adopted this framework.
President’s Rationale
The president justified his veto by arguing that overly strict rules could:
- Hurt transparency in the market
- Burden small businesses
Government’s Counterpoint
Government officials warn that a lack of clear regulation:
- Exposes investors to risk
- Could turn the market into a playground for fraudsters
The finance minister has cautioned that without clear rules, both consumers and companies face danger.
History of Rejections
This is the second time the government failed to override a presidential veto on this bill:
- December – First rejection, followed by an “improved” draft that critics say is nearly identical to the original.
- February – Second veto, with the president stating that a law he deems wrong will not become valid simply because it has passed repeatedly.
Impact on the Crypto Ecosystem
The dispute has drawn attention from Zonda, Poland’s largest crypto exchange. Zonda claims it has been unfairly targeted by lawmakers and alleges links to criminal networks—claims the exchange denies. The CEO argues that involving the company in political conflicts harms Poland’s innovation scene and threatens to take legal action. He also mentioned a large crypto wallet that remains inaccessible after the former CEO disappeared.
The Bigger Picture
The ongoing standoff underscores how challenging it is for Poland to balance regulation with growth in the digital economy. The outcome of this debate will shape how safe and competitive Poland’s crypto market becomes in the coming years.
