- Poland’s President has, for the second time since December, vetoed legislation intended to align Poland with the EU’s MiCA crypto regulatory framework.
- President Nawrocki refused to sign the bill that was passed by Polish lawmakers, saying it was “practically identical” to the earlier version of the bill and was still likely to stifle innovation.
- Work is currently underway to prepare a third, more crypto-friendly version of the bill, with hopes it’ll pass into law before the July 1 MiCA deadline
The President of Poland, Karol Nawrocki, has vetoed a second bill designed to align the European nation with the EU’s Markets in Crypto-Assets Framework (MiCA), having previously vetoed a very similar bill in December.
Nawrocki refused to sign Bill 2064 into law last week, according to a statement released by the President’s office on February 12, with the Polish President saying the bill was “practically identical” to the previous bill he had refused to sign.
“I vetoed the cryptocurrency market law again. For the second time, I received a project practically identical to the one I had already vetoed. One detail has been changed, no fundamental errors have been removed,” he said.
I will not sign a bad law just because it was voted again by the parliamentary majority – a bad law voted even a hundred times remains a bad law.
Karol Nawrocki, President of Poland Nawrocki’s veto follows an announcement from Poland’s Financial Supervision Authority (KNF) that the nation has yet to appoint an authority to oversee the nation’s crypto market. Time is running out before Europe transitions to the EU-wide MiCA regulatory regime on July 1, 2026.
While the veto sounds like a bad thing for the Polish crypto industry, on closer inspection, it’s probably a net positive. The reason Nawrocki declined to sign the bill into law isn’t opposition to crypto, but rather because he believes the bill takes a too heavy-handed approach, which would limit innovation.
Poland should attract innovation, not push it away.
Karol Nawrocki, President of Poland Another Polish politician and crypto supporter, Janusz Kowalski, also criticised the earlier version of the bill, describing it as an example of excessively complex overregulation and suggesting it could harm innovation.
Polish economist, Krzysztof Piech, posted on X / Twitter over the weekend that work on a new, pro-innovation version of the bill is underway, with an initial draft already completed.
Related: Polish Parliament Advances Strict Crypto Market Regulation Bill
Lack of Legislation Driving Domestic Crypto Firms Out of Poland
The lack of crypto legislation and clear regulatory oversight is creating something of an unlevel regulatory playing field in Poland. Local Polish crypto firms are currently left without a pathway to MiCA-compliant operation, while foreign companies registered in other jurisdictions are able to operate compliantly within Poland, leading to fears many smaller Polish crypto firms may not survive.
Coinbase, for example, recently entered the Polish market after acquiring a MiCA license in Luxembourg in 2025, allowing it to operate compliantly while local firms scramble for solutions as the July MiCA deadline approaches.
Related: EU Urged to Back Euro Stablecoins to Challenge Dollar Dominance
Some Polish firms are seeking MiCA licenses from neighbouring jurisdictions with a more mature crypto regulatory landscape, such as Estonia, and then seeking to have their licenses recognised inside Poland in order to offer products and services inside their home country.
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