Poland’s crypto regulation blocked again amid scandal

Poland's parliament again failed to override the president's veto on crypto regulation, leaving the country without a MiCA supervisory authority as the Zondacrypto scandal escalates.

Poland's lower house of parliament, the Sejm, has failed for the third time to override President Karol Nawrocki's veto of a bill aimed at regulating the country's crypto market. In the latest vote, 241 lawmakers supported the override, 198 opposed, and three abstained—falling 25 votes short of the three-fifths majority needed. The proposed legislation would have placed the crypto sector under the supervision of the Polish Financial Supervision Authority (KNF) and established a framework for implementing the European Union's Markets in Crypto-Assets Regulation (MiCA). President Nawrocki argued the bill imposed excessive regulatory burdens and granted authorities overly broad powers, including the ability to block crypto-related websites. This debate has intensified amid the ongoing Zondacrypto scandal, as the exchange's Estonian operator faces bankruptcy and a widening criminal investigation. Despite MiCA regulations being in force across the EU, Poland still lacks a designated authority to oversee its cryptoasset market.