Poland drafts tougher crypto platform penalties

TLDR

Poland is preparing a new crypto law that keeps earlier reforms but adds significantly tougher penalties for abusive or criminal crypto platforms.

1. Prime Minister Donald Tusk ordered a fresh bill after alleged fraud and money laundering at local exchange Zondacrypto, with estimated user losses of at least $97 million.
2. The bill reportedly mirrors previous reforms but raises penalties for platforms that defraud investors or threaten national security, and will be aligned with EU MiCA rules.
3. Crypto users and platforms should watch how strict these penalties become, whether the President signs this version, and how Poland finally implements MiCA compared with other EU states.

Deep Dive

1. Trigger: Zondacrypto Scandal

Polish authorities are investigating exchange Zondacrypto for suspected fraud and money laundering, with roughly 30,000 users facing withdrawal issues and estimated losses of at least 350 million z?oty (about $97 million) as of early May. Reports say prosecutors are also probing potential Russian or organized crime links, which the CEO strongly denies, calling the accusations absurd and claiming the exchange is solvent.

In response, Prime Minister Donald Tusk announced a new digital asset bill focused on cleaning up the sector after what appears to be one of Polands largest crypto-related failures so far.

2. What Tougher Penalties Likely Means

According to local coverage summarized by outlets like Crypto.news and CoinGeek, the new proposal is largely the same as two earlier crypto bills that President Karol Nawrocki vetoed, but with one key change: harsher penalties for crimes committed via crypto platforms. Tusk explicitly framed the change as targeting those who exploit peoples dreams and naivety to defraud them or endanger Polish security.

Practically, that likely means longer prison terms and higher fines for operators involved in fraud, money laundering, or sanction evasion, plus stronger enforcement powers for the financial regulator KNF.

3. EU MiCA Context And What To Watch

Poland is currently the only EU member that has not fully implemented the Markets in Crypto Assets (MiCA) regime, partly due to earlier vetoes over civil liberties and regulatory reach. The new bill is expected to be supervised by KNF and aligned with MiCA, which sets EU-wide rules for licensing, capital, disclosures, and stablecoins.

Key questions now:

1. Does the President accept this tougher-penalty version or veto again?
2. Do penalties go beyond EU norms, making Poland a particularly strict jurisdiction?
3. How quickly do existing platforms adapt, exit, or seek licenses elsewhere in the EU?

Conclusion

Poland is using a high-profile exchange scandal to revive stalled crypto regulation, this time with sharper punishment for bad actors. If the law passes and MiCA is finally implemented, compliant firms gain clearer rules but face higher enforcement risk, while loosely run platforms and informal operations become significantly less viable in the Polish market.