Overview
- The Sejm fell short of the three-fifths majority needed to overturn President Karol Nawrocki’s rejection of the Crypto-Asset Market Act.
- The shelved bill sought to implement EU MiCA rules, empower the KNF to supervise crypto providers, and add criminal penalties for unlicensed activity.
- Prime Minister Donald Tusk cast the measure as a security priority and cited risks of foreign intelligence exploiting digital assets, with Russia previously named by Polish services.
- The presidency and right-wing parties argued the proposal overreached, threatened civil liberties and business, and urged work on a simpler replacement.
- With most EU states moving ahead under MiCA, Poland’s fast-growing crypto market now faces legal uncertainty and the risk of firms seeking authorization in other jurisdictions.