Polish President Karol Nawrocki has vetoed a cryptocurrency regulatory bill for the third time, delaying the country’s implementation of the European Union’s Markets in Crypto Assets Regulation (MiCA). The president stated he supports market regulation but argued the government adopted only one of 16 key amendments he proposed. This leaves Poland as the only EU member state without a domestic MiCA framework just weeks before the transitional period ends, potentially jeopardizing the operations of Polish crypto firms serving EU clients.
Polish President Karol Nawrocki vetoed a cryptocurrency regulatory bill for the third time, which sought to implement Europe’s Markets in Crypto Assets Regulation (MiCA) in the country. Nawrocki said Thursday he supports regulating the cryptocurrency market but argued the government incorporated only one of 16 key amendments proposed by his office.
The third veto delays Poland’s alignment with the EU-wide regulatory framework just weeks before the end of MiCA’s transitional period on July 1. Following this deadline, crypto asset service providers will be required to hold a MiCA license or stop servicing EU clients.
Polish Prime Minister Donald Tusk criticized the veto in a Thursday post, writing: “It sounds unbelievable, but the president has vetoed the cryptocurrency bill again.” The decision adds to a political standoff on how Poland should oversee crypto assets.
Lawmakers previously failed to override a second veto in an April vote, falling short of the required 263 votes. Nawrocki has reportedly defended his opposition by citing concerns about excessive regulation and potential burdens on small businesses.
The veto comes as scrutiny of Poland’s crypto sector intensifies. Prosecutors are investigating one of the country’s largest crypto exchanges, Zondacrypto, for suspected fraud and money laundering involving 2,000 customers.
