Key Takeaways:
Poland’s parliament has for a second time failed to overturn a presidential veto on its Markets in Crypto-Assets (MiCA) implementation bill, falling 20 votes short of the required three-fifths majority.
"The absence of clear rules risks turning the market into an ‘El Dorado for fraudsters,’" Finance Minister Andrzej Domański said, warning that consumers and businesses remain vulnerable.
The vote on Friday saw 243 MPs support overriding President Karol Nawrocki's veto, while 191 supported it — failing to reach the 263-vote threshold. The bill, backed by Prime Minister Donald Tusk, aims to align Poland with the EU’s MiCA framework, which was introduced in 2024.
The continued legislative stalemate isolates Poland from the EU's unified crypto-asset market, potentially driving investment to other member states and leaving Polish investors without key protections outlined in the bloc's landmark regulation.
President Nawrocki has consistently opposed the bill, which was first vetoed in December and again in February. He maintains the law imposes excessive burdens on businesses and lacks transparency. "A wrong law that passed a hundred times still remains a wrong law,” Nawrocki stated following his second veto.
The political dispute has also embroiled Zonda, the country's largest crypto exchange. Prime Minister Tusk recently cited intelligence reports allegedly linking the platform's origins to Russian criminal networks, accusations the exchange's CEO denies.
Zonda CEO Przemysław Kral called the accusations "absurd" and announced he would take legal steps to protect his rights. The controversy adds another layer to the complex political battle over how Poland will approach digital asset regulation, leaving it as the last EU member state without a clear path to MiCA compliance.
This article is for informational purposes only and does not constitute investment advice.
