Quick Takeaways:
- The president of Poland succeeded in vetoing the crypto legislation, preventing lawmakers from overturning it.
- The veto halts MiCA-aligned regulation. Creates a split among industry participants.
- Crypto adoption in Poland is on the rise, regardless of regulatory delays.
- Poland Unable to Resurrect Crypto Legislation Following Presidential Veto
A Major Setback for Poland’s Crypto Regulation
The veto of the Crypto-Asset Market Act by President Karol Nawrocki could not be overridden by the lower house of Poland.
The lawmakers needed a three-fifths majority but got only three-fifths of the votes; therefore, the progress towards a national regulatory framework compatible with EU MiCA was stopped.
The decision requires the government to repeat the regulatory procedure once more.
A Bill Designed to Align With MiCA
The bill was introduced by Prime Minister Donald Tusk’s government in June. The intention was to make Poland compliant with the EU’s wider digital-asset markets framework.
Bloomberg cited the legislation’s goal to ease oversight and enhance consumer safeguards across the crypto ecosystem.
Reasons Behind the President’s Rejection of the Bill
Last week, Nawrocki annulled the bill. He remarked that the proposal would “jeopardize the liberties of the Polish people, their possessions, and the permanence of the country.”
His move triggered a power struggle between the presidency and the government, highlighting the existing disputes regarding the extent of authority regulators ought to hold over the crypto markets.
Advocates Consider the Bill a Matter of Security Importance
Government authorities and advocates portrayed the legislation as crucial for safety. They argued that robust regulation is necessary to tackle fraud and stop the exploitation of cryptocurrency by parties, including Russia.
They cautioned that postponing regulations puts Poland vulnerable amid increasing threats.
Warning Issued to Industry Groups About Excessive Regulation
Multiple crypto-industry groups resisted the proposed law. They claimed the regulations were excessively onerous and would drive innovation away from Poland.
Opponents cautioned that rigorous licensing, steep compliance expenses, and criminal liability provisions for leaders might damage the nation’s edge.
Crypto Adoption Surges Despite Regulatory Stalemate
Poland’s cryptocurrency landscape keeps expanding despite delays. Chainalysis recognized Poland as one of the leading crypto markets in Europe.
On-chain transactions increased significantly this year, with volumes climbing over 50% compared to the previous year, as stated in its 2025 Europe report.
Bitcoin Adoption Experiences Rapid Growth
Investors in Poland have significantly increased their Bitcoin investments. Additionally, Poland has emerged as a hub for Bitcoin ATMs.
At the start of the year, Cointelegraph reported that Poland surpassed El Salvador to rank as the largest global Bitcoin ATM installation center.
What the Future Holds for Poland
With the veto upheld, the government is required to restart the legislative procedure. This obstacle further widens the gap between Poland and the remainder of the EU.
Both the government and the industry hope for a new version of the bill this year, but the political divide suggests a difficult path ahead.