A Political Standoff Leaves Poland Behind Europe
Poland has officially become the EU’s lone holdout on MiCA after lawmakers failed to overturn President Karol Nawrocki’s veto of the country’s flagship crypto regulation bill. The vote in the Sejm, Poland’s lower house, missed the necessary threshold by just 18 votes, forcing Prime Minister Donald Tusk’s coalition to restart the legislative process from scratch.
The defeat marks another chapter in Poland’s fierce political divide, with Nawrocki’s nationalist faction rejecting a bill the government said was essential for aligning with EU-wide standards.
President Rejects MiCA Law Over ‘Threats to Freedom’
Nawrocki vetoed the legislation earlier in the week, arguing it was overly complex, burdensome for local firms, and risked pushing the crypto industry abroad. He warned that the bill’s scope was far broader than implementations seen in other EU states, calling parts of it “a threat to the freedoms of Poles.”
Tusk countered by framing the veto as a national security concern, warning lawmakers that Russian criminal networks were using digital assets for covert financing. But Nawrocki’s allies pushed back, with the president’s chancellery chief Zbigniew Bogucki accusing Tusk of using fear tactics.
Industry Divided Over the Failed Legislation
The veto exposed deep divisions within Poland’s crypto ecosystem. Some industry voices welcomed MiCA alignment as a path to regulatory clarity, while others warned the draft would “criminalize blockchain innovation.”
The CEO of Zondacrypto, one of Poland’s largest exchanges, previously called the bill “a step backwards” arguing that strict requirements could push startups to friendlier jurisdictions like Lithuania or Malta. Despite the uncertainty, Poland’s crypto economy continues to expand, driven by high retail adoption and increasing institutional flows.
Poland Now an EU Outlier as MiCA Goes Live
With MiCA fully in effect across Europe since December 2024, Poland now stands alone. Nations such as Germany, Malta, the Netherlands, and Lithuania are already issuing crypto-asset service provider licenses, giving companies a clear regulatory path forward.
Meanwhile, Poland is stuck in a regulatory vacuum, a position that risks slowing investment and leaving consumers without protections offered elsewhere in the EU.
Crypto Adoption Surges Despite Regulatory Vacuum
Even amid political deadlock, interest in crypto inside Poland is booming. Chainalysis ranks Poland eighth in Europe for crypto transaction volume, reporting 50% year-over-year growth. Statista estimates that 7.9 million Poles - nearly 20% of the population - now use cryptocurrency.
At the same time, Italy reminded firms of the Dec. 30 MiCA compliance deadline, warning that exchanges operating without licenses would need to shut down. The European Commission is also exploring a future pan-EU crypto supervisor, a move that could eventually reduce the relevance of national interpretations of MiCA.
