Poland's Crypto Law Fails a Third Time, Leaving the Only Gap in Europe

Poland remains the only EU member state without a functioning national framework for MiCA, after the Sejm again failed to override President Karol Nawrocki’s veto of crypto regulation.

Friday’s vote, the third such attempt, fell 25 votes short of the three-fifths majority required to reverse his decision.

Inside Poland’s Third Crypto Veto and Nawrocki’s Reasoning

Of 442 lawmakers present, 241 voted to override the veto, 198 opposed the motion, and three abstained, falling short of the 266 votes needed. Nawrocki first vetoed the legislation in December, then again in an earlier version, before rejecting it a third time on June 11.

At that rejection, Nawrocki argued lawmakers had addressed only one of sixteen changes his office proposed. Bad law does not become good law simply because it passes a hundred times, he said in his statement.

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The bill would have designated Poland’s Financial Supervision Authority, known as KNF, as the country’s official crypto regulator, aligning domestic rules with the EU’s Markets in Crypto-Assets (MiCA) Regulation. All EU member states were required to implement MiCA by July 2026, a deadline Poland has now missed entirely.

The regulatory standoff plays out against a deepening criminal investigation into Zondacrypto, the exchange formerly known as BitBay.

Prosecutors have tied the case to the 2022 disappearance of BitBay founder Sylwester Suszek and estimate investor losses at no less than 350 million zlotys, roughly $95 million.

“First, PiS defended President Nawrocki’s successive vetoes that prevented the regulation of the crypto market. Then, for weeks, it hypocritically accused the state of failing to protect Poles.Today they once again had a choice: the safety of Poles or the shady interests of the crypto business.They chose. Crypto silver coins.To be continued. #KryptoAferaPiS,” Andrzej Domański, Minister of Finance and Economy of Poland, said on X.

Najpierw PiS bronił kolejnych wet Prezydenta Nawrockiego, uniemożliwiających uregulowanie rynku kryptowalut. Potem tygodniami obłudnie oskarżał państwo, że nie ochroniło Polaków.Dziś znów mieli wybór: bezpieczeństwo Polaków albo szemrane interesy kryptobiznesu.Wybrali.…

— Andrzej Domański (@Domanski_Andrz) September 4, 2026

The Zondacrypto Case Adds Political Weight

The scandal has reached deep into Polish public life. Olympic Committee President Radosław Piesiewicz was reportedly detained on allegations of ties to Zondacrypto founder Przemysław Kral.

Zondacrypto’s Estonian operator, BB Trade Estonia, was declared bankrupt in August, with creditors set to meet on September 17.

Prime Minister Donald Tusk has repeatedly invoked the investigation while pushing lawmakers to pass the legislation, arguing that stronger oversight could have prevented the alleged fraud. Nawrocki maintains that expanded powers, including authority to block websites, would push legitimate firms abroad rather than protect consumers.

The override failed, so the veto remains legally in force. Polish crypto firms now face continued uncertainty over licensing and enforcement. KNF has publicly acknowledged that the country still lacks any designated authority for the sector. MiCA, meanwhile, already applies EU-wide.

Whether a revised bill can eventually pass remains the central question. That outcome depends on addressing more of Nawrocki’s specific objections, shaping Poland’s crypto policy heading into the fall.

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