Poland’s president has vetoed a second bill aimed at aligning the country’s cryptocurrency regulations with the framework of the European Union’s Crypto Markets Regulation, deepening uncertainty for local platforms as a key transition deadline approaches.
President Karol Nawrocki refused to sign it Bill 2064 last week, expressing a second veto on proposed rules implementing the EU’s Markets in Crypto Assets (MiCA) Regulation, Office of the President he said Thursday. Nawrocki vetoed a similar measure in December and described Act 2064 as “virtually identical” to the original Bill 1424 vetoed earlier.
The veto followed announcement by the Polish Financial Supervision Authority (KNF), warning that Poland has not designated the competent authority to supervise the cryptocurrency market, emphasizing the MiCA transition deadline of July 1, 2026.
“This does not change our strategy,” Kanga Exchange co-president Sławek Zawadzki told Cointelegraph.
“From the beginning, we took into account the possibility that the act implementing MiCA in Poland may not enter into force on time and therefore we have prepared alternative jurisdictional solutions,” Zawadzki said.
Bills has faced hefty criticism from cryptocurrency advocates
The veto highlights ongoing debate and divisions within the Polish government over how to regulate digital assets, with Nawrocki signaling a more industry-friendly stance by rejecting strict regulations.
Both proposals have been met with criticism from cryptocurrency market advocates, with Polish politician Tomasz Mentzen describing the legislation as sweeping “over-regulation” that could stifle the sector.
“I will not sign a bad law just because it has been passed again by the parliamentary majority. A bad law that has been passed a hundred times is still a bad law,” said Nawrocki, adding: “Poland should attract innovation, not repel it.”
Despite this, neither law creates a regulatory imbalance under MiCA
Although industry advocates welcomed the president’s veto, the lack of legislation implementing MiCA puts local crypto platforms in a precarious position ahead of this summer’s transition deadlines.
The situation also creates a regulatory imbalance between Polish companies and foreign entities, such as the American cryptocurrency exchange Coinbase, which recently expanded its operations in Poland after obtaining a MiCA license in Luxembourg in 2025.
“Foreign entities that obtain a MiCA license in their home countries will be able to provide services in Poland, while Polish companies currently have no formal path to start the licensing process in the country,” Zawadzki from Kanga told Cointelegraph. “This results in regulatory asymmetry,” he added.
Przemysław Kral, CEO of Zonda Crypto – an exchange originally founded in Poland but now registered in Estonia – said regulatory uncertainty will likely push many smaller local crypto companies out of the market.
Related: Binance is applying for a MiCA license in Greece as EU deadlines approach
“Even though we are a company with Polish roots and the largest player in the cryptocurrency industry on the Polish market, we have been operating outside Poland for years,” Kral told Cointelegraph. The company has implemented a strategy to obtain MiCA licenses outside Poland and plans to passport the licenses to the country.
“We are sure that we will remain a key player on the market. However, many small Polish cryptocurrency companies will lose the opportunity to operate on the market,” said the president.
Following the latest veto, Polish economist Krzysztof Piech said he is working on a modern, more cryptocurrency-friendly proposal to implement MiCA in Poland. Over the weekend, Piech announced on social media that the project exists and is being finalized.
Cointelegraph asked Professor Piech for comment on the draft bill, but did not receive a response via publication.
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