Poland’s Lower House of Parliament Overrides Presidential Veto on Crypto Bill

Poland’s Sejm (lower house of parliament) pushed through a contentious crypto-asset bill for the second time, overriding President Karol Nawrocki’s earlier veto in a move that has reignited debate over how the country will implement the EU’s Markets in Crypto-Assets (MiCA) framework.

Next Steps: Senate Review and KNF Authority

The Sejm’s re-approval sends the legislation back to the Senate. If it clears that chamber and survives any further presidential objection, Poland’s financial watchdog KNF (Polish Financial Supervision Authority) will gain sweeping authority over domestic crypto operations. The bill is Warsaw’s attempt to harmonize with MiCA, the EU-wide regulatory standard that took effect across the bloc earlier this year.

But local operators aren’t celebrating. Polish crypto firms and advocacy groups have hammered the bill as overly punitive, warning it layers domestic restrictions on top of MiCA’s baseline requirements. Critics argue the added compliance burden could choke innovation and push businesses toward friendlier EU jurisdictions like Germany or the Netherlands.

European Context and Regulatory Tensions

The legislation’s rocky path reflects broader tension across Europe as member states customize MiCA implementation. While the regulation aims to create a unified market, national interpretations vary wildly. Poland’s stricter stance contrasts with countries that have opted for lighter-touch approaches, raising fears of regulatory arbitrage within the single market.

President Nawrocki vetoed the bill in its first iteration, citing concerns over its impact on the tech sector. The Sejm’s override mechanism allows parliament to force the law through with a three-fifths majority. The Senate now holds the next card, with industry watchers expecting a contentious review process before any final vote.

Growth of Poland’s Crypto Sector

Poland’s crypto sector has grown rapidly despite regulatory uncertainty, with Warsaw emerging as a regional hub for blockchain startups. The KNF has historically taken a cautious stance on digital assets, issuing repeated warnings about speculative risks while stopping short of outright bans.

The timing is critical. MiCA’s staggered rollout means full compliance deadlines loom in 2025, and Poland risks falling out of sync with the rest of the EU if it delays much longer. But rushing a flawed framework could trigger an exodus of talent and capital to competing markets.

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