Poland parliament upholds vetoed crypto bill

TLDR

Polands parliament has failed to overturn the presidents veto of a key crypto law, leaving the country as the EUs only MiCA holdout and its crypto sector in limbo.

1. Lawmakers again fell short of the supermajority needed to override President Karol Nawrockis veto of the Crypto-Asset Market Act, marking a third failed attempt.
2. Without this law, Poland still has no national MiCA framework, so local crypto firms must register in other EU states to operate compliantly.
3. The Zondacrypto scandal and ongoing corruption probe will shape whether and how a revised bill emerges in the coming months.

Deep Dive

1. What Law Failed

The Sejm voted 241 in favor, 198 against, with 3 abstentions, but needed 266 votes to override President Nawrockis veto of the Crypto-Asset Market Act, so the veto stands for a third time. Reports note this was the third failed override attempt, leaving the presidents earlier vetoes from December and June fully in force.

The bill would have formally designated the Polish Financial Supervision Authority (KNF) as the crypto regulator and aligned domestic rules with the EUs Markets in Crypto-Assets (MiCA) regulation, which all member states were meant to implement by July 2026. Poland now remains the only EU country without a functioning national MiCA framework, according to one detailed overview of the third failed override vote.

2. Impact On Polish Crypto

Because the veto stands, there is still no clear national licensing and supervision regime for crypto providers in Poland under MiCA. Coverage explains that Polish firms must register in other EU jurisdictions to get MiCA-compliant authorization, then passport services back into Poland.

This creates extra friction for exchanges and service providers that want to serve Polish users, and it leaves consumers with less clarity about which entities are supervised by KNF versus foreign regulators. Another analysis stresses that KNF itself acknowledges there is no designated domestic authority for MiCA-style oversight until new legislation passes.

3. What Could Happen Next

The timing and shape of any new bill are now tightly linked to the high-profile Zondacrypto scandal, where the collapsed exchange allegedly caused losses near 350 million zlotys and triggered a nationwide corruption probe. Coverage describes detentions of prominent figures and the CEOs flight abroad, which Prime Minister Donald Tusk uses to argue for stronger oversight.

President Nawrocki, however, has said lawmakers addressed only one of sixteen changes his office requested and argues that the rejected draft would harm freedom and drive legitimate firms abroad. Any revised proposal will need to bridge that gap, addressing his objections while satisfying EU MiCA requirements and political pressure arising from the scandal.

Conclusion

Polands decision to uphold the veto keeps its crypto market as an outlier inside the EU, with MiCA applying indirectly through foreign registrations instead of a clear national regime. Until Warsaw can agree on a revised Crypto-Asset Market Act that satisfies both the presidency and parliament, Polish users face ongoing uncertainty over who regulates their platforms and how robust consumer protections really are.