Poland’s president has vetoed a second legislative attempt to implement the EU’s landmark Markets in Crypto-Assets Regulation (MiCA), creating regulatory uncertainty for local platforms. The veto leaves Poland without a designated crypto supervisor as a key MiCA transition deadline of July 1, 2026, approaches, potentially disadvantaging domestic firms against licensed foreign competitors like Coinbase.
Poland’s President Karol Nawrocki declined to sign Bill 2064 last week, marking his second veto of proposed MiCA-implementing legislation. Nawrocki described the bill as practically identical to an earlier proposal he rejected in December, stating, *”I will not sign a wrong law just because it was passed again by the parliamentary majority.”*
The Polish Financial Supervision Authority (KNF) had previously warned the country lacks a competent authority to supervise the crypto market. This regulatory void creates an imbalance where foreign entities with a MiCA license can operate in Poland, while domestic companies have no formal path to a local license. “This results in regulatory asymmetry,” Kanga Exchange co-CEO Sławek Zawadzki said.
Industry advocates had criticized the legislation as overregulation. Polish politician Tomasz Mentzen argued it could stifle the sector, a sentiment echoed by President Nawrocki who added “Poland should attract innovation, not push it away.” Despite the veto’s welcome reception from supporters, the absence of a law places local crypto platforms in a precarious position ahead of the 2026 deadlines.
Zonda Crypto CEO Przemysław Kral stated the uncertainty will likely push many small Polish crypto companies out of the market. His company, originally Polish but now Estonian-registered, pursued a MiCA license abroad to passport services back into Poland. In response to the veto, Polish economist Krzysztof Piech is finalizing a new, more crypto-friendly draft bill for MiCA implementation.
