TLDR
Polands parliament has again failed to overturn the presidents veto of its main crypto law, so the veto stays and the country still lacks MiCA-aligned rules.
- Lawmakers fell short of the three-fifths majority needed to override President Karol Nawrockis veto of the Crypto-Asset Market Act, leaving the veto in place for a third time.
- Poland remains the only EU state without a working Markets in Crypto-Assets (MiCA) framework, so local firms must register in other EU countries and consumer protections stay patchy.
- The government is now drafting a fresh bill, but timing, content, and whether it will satisfy the presidents demands are still unclear.
Deep Dive
1. How The Veto Survived
The Sejm (Polands lower house) voted 241 to 198, with 3 abstentions, to override the veto, but needed 266 votes, so the presidents earlier veto of the Crypto-Asset Market Act stands. This was the third failed override attempt, after prior vetoes in December and June.
The bill would have designated Polands KNF as the crypto regulator and fully aligned national rules with the EUs MiCA regime, which EU states were meant to implement by July 2026, a deadline Poland has now missed according to several reports. One account notes that Poland is currently the only EU member without a functioning MiCA-aligned national framework and that the veto remains legally in force.
the headline reflects a real procedural outcome - the presidents block is intact and the previous bill is effectively dead.
2. Impact On Polish Crypto Users And Firms
With the veto intact, Polish exchanges and crypto service providers cannot get clear local licensing under MiCA and instead need to passport in by registering elsewhere in the EU. Reports describe operators facing pressure to base their regulatory home in other member states before offering services to Poles.
The fight over regulation is tightly linked to the collapse and alleged fraud at Zondacrypto, a major Polish exchange, with estimated customer losses near 350 million zlotys and a widening corruption probe. Supporters of the bill argue that a robust MiCA-based regime could have reduced such risks, while the president claims the drafted law would harm freedom and stability and did not adequately reflect his offices proposed fixes.
for now, Polish users rely on foreign-registered platforms and a patchwork of oversight, which can increase uncertainty around recourse if something goes wrong.
3. New Bill And What To Watch
Government officials say the Finance Ministry is already working on a new crypto bill to implement MiCA after this failed override, with lawmakers promising more detail on timing soon. However, sources indicate that previous drafts addressed only a small fraction of the presidents requested changes, so the next proposal will need more compromise to secure his signature or enough votes to override him.
Key signals to monitor are:
- When a revised draft is formally published and whether it narrows the gap with the presidents objections.
- Whether it still gives Polands regulator meaningful enforcement power over exchanges and tokens.
- Any interim guidance from KNF on how it will treat crypto firms operating via foreign registrations.
Poland will probably get MiCA-style rules later than the rest of the EU, so near term the main edge for market participants is understanding which foreign-regulated venues are safest for Polish users and businesses.
Conclusion
By failing to overturn the veto, Poland has locked in a period of regulatory limbo where MiCA applies at the EU level but is not fully embedded in national law. That leaves local firms pushed toward foreign registration and users with less clarity on protections, while political actors attempt to craft a new compromise bill that satisfies both consumer protection goals and the presidents concerns.
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