Poland fails to override crypto bill veto

TLDR

Polands parliament has failed to overturn the presidents veto of a key crypto law, leaving the country out of sync with the EUs MiCA regime for now.

1. Lawmakers fell short of the three fifths majority needed to override the veto on the Crypto Asset Market Act, so the earlier presidential rejection stands.
2. This keeps Polish crypto firms in regulatory limbo, pushing them to register in other EU states and leaving users reliant on foreign supervised platforms.
3. The government is preparing a new draft, but political infighting and fallout from the Zondacrypto scandal make the timing and final shape of regulation uncertain.

Deep Dive

1. What Failed In Parliament

Polands Sejm voted again on whether to override President Karol Nawrockis veto of the Crypto Asset Market Act and reached 241 votes, short of the 266 needed for a three fifths majority, with 198 against and 3 abstentions.

It was at least the third veto on this bill, which would have designated the Financial Supervision Authority (KNF) as the main crypto regulator and brought Poland in line with the EUs Markets in Crypto Assets (MiCA) framework. As a result, Poland remains the only EU member that has not yet adapted its domestic law to MiCA.

2. Regulatory Limbo And Zondacrypto Fallout

Because the override failed, Polish crypto businesses still need to register in another EU country to obtain a MiCA license and then passport services back into Poland. Reports note that many are already doing this, adding cost and complexity and weakening Polands ability to supervise them directly.

The bill itself was shaped by the collapse of Zondacrypto, formerly Polands largest exchange, which allegedly froze withdrawals, went offline, and left customers facing losses of roughly 94 to 97 million dollars, triggering fraud and corruption probes and high profile detentions.

3. What To Watch Next

Government officials say the Finance Ministry is now preparing a fresh crypto bill that responds to the presidents stated concerns about overburdening the industry while still aligning with MiCA.

Key signals to watch are: when a new draft is published, whether KNF remains the designated supervisor, and whether custody, exchange licensing, and consumer protection are tightened in direct response to the Zondacrypto case.

Conclusion

Polands failed veto override keeps its crypto market in a holding pattern: MiCA applies at the EU level, but Poland has no dedicated national framework or supervisor yet. Until a revised bill passes, the country will depend on foreign regulated platforms and remain an outlier in the EU, with both regulatory risk and opportunity for firms willing to structure around that gap.