Poland lower house approves MiCA-aligned bill

TLDR

Polands lower house has approved a MiCA-aligned crypto bill, but it is not law yet and still needs Senate and presidential sign-off.

1. The Sejm passed government bill 2529, aligning Polish crypto rules with the EUs MiCA framework and empowering the KNF regulator over exchanges and issuers.
2. The move is driven by a July MiCA deadline and a fraud scandal at Zondacrypto, with regulators warning that firms could lose authorization without a domestic regime.
3. The main uncertainty is whether President Karol Nawrocki will veto again, which would keep Polish crypto businesses in limbo and push them to license abroad.

Deep Dive

1. Key Features Of The New Bill

Polands Sejm approved Ministry of Finance bill 2529 in a 241-200 vote to implement the EUs Markets in Crypto Assets Regulation (MiCA) domestically, making the Polish Financial Supervision Authority (KNF) the main crypto watchdog. This is the third attempt after two earlier vetoes by President Nawrocki, but the text still gives KNF the power to license crypto asset service providers (CASPs), freeze accounts and transactions, and impose significant fines on non compliant firms, reportedly up to 25 million zlotys, according to parliamentary summaries and community coverage of the Sejm vote and bill 2529 designating KNF as supervisor.

In practice, exchanges, custodians and token issuers active in Poland would need a KNF license, clear disclosure and conduct standards, and better segregation and reporting of client assets if the bill becomes law.

2. MiCA Deadline And Zondacrypto Backdrop

The timing is driven by two pressures. First, MiCA becomes fully operative in the EU with key transition windows ending in mid 2026, and Poland risks being the last member without a national implementation. The countrys financial watchdog has warned that without a MiCA based regime, domestic firms could lose authorization to provide crypto asset services after July.

Second, the bill comes amid a major fraud probe into exchange Zondacrypto, where prosecutors estimate losses above 350 million zlotys and thousands of users cannot withdraw funds. Prime Minister Donald Tusk has publicly cited suspected Russian links, turning the case into both an investor protection and national security issue.

3. What Changes And What To Watch

For users and firms, the big practical change is that operating in Poland would increasingly mean being a MiCA licensed CASP under KNF supervision, similar to other EU markets. That likely implies stricter KYC and AML, more formal risk disclosures, and fewer unregulated local platforms, but also clearer protections if a regulated venue fails.

However, President Nawrocki has already vetoed two MiCA bills, citing opaque domain and account blocking powers and high supervisory fees that could hurt smaller firms. Those controversial elements remain, and commentators expect another challenge from the presidency based on criticisms over domain blocking and supervisory fees. If he vetoes again and no compromise emerges before the deadline, more Polish crypto companies are likely to seek MiCA licenses in other EU states instead of at home.

Conclusion

Polands lower house approval of a MiCA aligned bill is a major step toward bringing its crypto market under the same rules as the rest of the EU, with stronger licensing and enforcement powers. The outcome now hinges on the Senate and President Nawrocki, whose decision will determine whether Poland offers a clear domestic path for MiCA compliant exchanges or continues to push serious crypto businesses to base in other EU jurisdictions.