Key Highlights
- Poland’s parliament failed to overturn a presidential veto on its crypto regulation bill.
- The bill would have aligned Poland with EU-wide MiCA requirements and empowered the KNF to supervise crypto service providers.
- PM Tusk framed the vote as a national security issue, citing risks of Russian money laundering via crypto.
Poland’s push to establish a comprehensive regulatory framework for cryptocurrencies collapsed on Friday after lawmakers failed to overturn President Karol Nawrocki’s veto of the country’s MiCA-aligned crypto bill.
The setback delays Warsaw’s attempt to bring its domestic crypto market in line with the European Union’s Markets in Crypto-Assets Regulation (MiCA), which most EU member states are already integrating to regulate exchanges, token issuers, and custodians.
The blocked legislation would have granted expanded supervisory authority to Poland’s Financial Supervision Authority (KNF) and introduced criminal penalties for illicit token issuance or violation of crypto-asset service standards.
National security narrative dominates parliamentary clash
Prime Minister Donald Tusk framed the vote as a national security priority, warning that Russia is exploiting opaque crypto flows for intelligence operations, sabotage payments, and money laundering. According to a report, Tusk highlighted Russian-linked crypto scandals and alleged attempts to destabilize critical infrastructure using covert crypto payments. Although details of the closed-door briefing were not disclosed.
Polish security services have previously claimed that Moscow used cryptocurrencies to pay operatives for sabotage, accusations that Russia denies.
Opposition says bill was overreaching compared to EU peers
President Nawrocki and right-wing parties said the draft law was more restrictive than MiCA requires and could push crypto companies out of Poland.
Critics argue that other EU countries have implemented MiCA with lighter measures and less bureaucratic friction, avoiding burdens that might disadvantage local players.
Presidential chancellery chief Zbigniew Bogucki accused Tusk of framing a “false choice.”
With the veto intact, Poland remains among the few EU states lagging behind MiCA compliance timelines, creating ambiguity for exchanges, custodians, stablecoin issuers, and token projects operating in the country.
Also Read: Poland’s President Vetoes MiCA Crypto Law Over Regulation Fears
