Poland's parliament passes MiCA-aligned crypto bill

TLDR

Polish lawmakers have approved a MiCA-aligned crypto bill that would create a licensing and supervision regime for digital-asset firms, but it still faces political hurdles before becoming law.

1. The Sejm passed a government bill implementing the EUs Markets in Crypto-Assets (MiCA) rules, giving the Polish regulator strong powers over exchanges and other providers.
2. The move comes amid a major fraud probe into local exchange Zondacrypto and an EU MiCA deadline, raising the stakes for Polish users and domestic crypto businesses.
3. The bill must still clear the Senate and be signed by President Karol Nawrocki, who has vetoed two similar proposals, so regulatory uncertainty is not fully resolved yet.

Deep Dive

1. What The New Bill Actually Does

The Sejm, Polands lower house of parliament, approved a Ministry of Finance backed bill (No. 2529) that transposes the EUs MiCA framework into national law in a 241 to 200 vote. The bill designates the Polish Financial Supervision Authority (KNF) as the national competent authority for crypto, with powers to license crypto asset service providers, impose administrative sanctions and temporarily block accounts and transactions. Reports from Cointelegraph and The Block explain that all exchanges, custodians and issuers, including foreign firms serving Polish users, would need KNF authorization under the new MiCA style regime.

Critically, the text includes tough provisions such as maximum fines of up to 25 million zlotys and controversial domain and account blocking powers, which critics say go beyond how some other EU states are implementing MiCA.

2. Why It Matters For Users And Firms

The legislative push is happening as prosecutors investigate the collapse of Zondacrypto, once Polands largest exchange, with estimated user losses above 350 million zlotys and allegations of Russian linked funding and political influence. Coverage from Reuters via Yahoo Finance and crypto.news notes that thousands of customers cannot access funds, which has amplified calls for stricter oversight and clear rules.

Under MiCA, licensed firms enjoy passporting across the EU, while unlicensed players will be pushed out. Polands financial watchdog has warned that failing to implement MiCA by the July deadline could see Polish firms lose authorization to offer crypto services while competitors from other EU states continue under MiCA licenses.

3. Remaining Risks And What To Watch

Despite the Sejm vote, the bill is not yet law. It must pass the Senate and receive the signature of President Karol Nawrocki, who has already vetoed two earlier MiCA implementation attempts as overly burdensome and innovation hostile. Commentators cited by Cointelegraph and The Block expect another veto is possible because the latest text leaves many of the disputed blocking powers intact.

If the president blocks the bill again, local firms may rush to seek MiCA licenses in other EU jurisdictions, potentially shifting activity and tax revenue abroad and prolonging uncertainty for Polish users.

Conclusion

Poland is finally moving toward the same MiCA based crypto licensing regime already taking shape across the rest of the EU, driven in part by the Zondacrypto scandal and looming EU deadlines. The new bill promises clearer rules and stronger protections, but until the Senate and president finish the process, firms and users still need to plan around the possibility of another political setback.