Poland Advances MiCA Crypto Bill Amid Veto Uncertainty

Poland has moved a step closer toward aligning its cryptocurrency regulations with the European Union’s Markets in Crypto-Assets framework after the lower house of parliament approved a government-supported crypto bill. The legislation was passed during the Sejm’s 57th sitting in Warsaw on May 15, 2026, receiving support in a 241-200 vote.

The newly approved proposal, identified as Bill No. 2529, seeks to bring Poland’s regulatory environment in line with the EU-wide MiCA framework, which aims to establish uniform standards for crypto businesses and investor protections across member states. Despite parliamentary approval, uncertainty continues to surround the bill due to ongoing political disputes and the possibility of another presidential veto.

Expanded Powers for Financial Regulators

The legislation grants expanded supervisory authority to the Polish Financial Supervision Authority, commonly known as the KNF. Under the proposed framework, the regulator would gain authority to impose administrative penalties and temporarily block accounts or transactions linked to suspected violations.

The bill was backed by Poland’s Ministry of Finance and reportedly combined several earlier proposals, including drafts submitted by opposition groups, parliamentary representatives, and the president’s office. Lawmakers from the opposition Law and Justice party had previously introduced a far stricter proposal that sought to prohibit all cryptocurrency-related activity in the country, although that measure failed to gain wider political support.

The approved legislation would give Poland’s financial regulator broader oversight powers while formally aligning the country’s crypto sector with the European Union’s MiCA framework.

However, critics have argued that the bill still fails to address key concerns previously raised by President Karol Nawrocki. One of the main objections involves the lack of stronger judicial oversight over the KNF’s authority to freeze transactions or block accounts.

Previous Vetoes Continue to Raise Concerns

The latest parliamentary approval represents Poland’s third attempt to establish a comprehensive crypto regulatory structure. Earlier efforts were blocked after presidential vetoes, creating delays in the country’s compliance with EU standards.

Analysts and industry participants are now questioning whether President Nawrocki could reject the legislation once again. If another veto occurs, lawmakers would require a three-fifths majority to override the decision, a difficult target given Poland’s politically divided environment.

Concerns over another potential presidential veto have created uncertainty around Poland’s ability to meet the EU’s approaching MiCA compliance deadlines.

MiCA officially entered into force across the European Union in June 2023, although implementation has been phased over multiple stages. Stablecoin-related provisions became active in June 2024, while broader rules governing crypto-asset service providers took effect in December 2024. Another important transition period involving payment services is scheduled to conclude in March 2026.

With neighboring EU countries already integrating MiCA requirements into domestic law, Poland’s slower progress has drawn criticism from industry observers. Market participants have warned that further delays could weaken the country’s competitiveness within Europe’s growing digital asset sector.

Zondacrypto Investigation Intensifies Regulatory Debate

The regulatory debate has also been influenced by controversy surrounding Zondacrypto, which remains under investigation over alleged fraud-related activities. Reports have indicated that thousands of users experienced difficulties withdrawing funds from the platform, increasing public pressure for stronger investor protections.

Prime Minister Donald Tusk reportedly alleged that the exchange maintained links to the Russian capital and had benefited from gaps within Poland’s existing crypto regulatory structure.

Industry participants have argued that delayed MiCA implementation has contributed to vulnerabilities within the market and reduced consumer confidence. Some critics also believe that the KNF’s expanded powers may still prove insufficient unless additional safeguards, including stronger judicial review mechanisms, are introduced.

Failure to finalize MiCA compliance could leave Poland’s crypto market isolated within the European Union and limit access to the bloc’s passporting system for crypto firms.

As the EU’s July 2026 compliance deadline approaches, Poland faces increasing pressure to finalize its regulatory framework. The outcome of the president’s upcoming decision is expected to play a crucial role in determining the country’s future position within Europe’s evolving cryptocurrency market.

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