Poland’s President Karol Nawrocki has vetoed a second bill designed to align national crypto regulations with the European Union’s Markets in Crypto-Assets Regulation (MiCA), intensifying uncertainty for domestic digital asset firms ahead of a key transition deadline.
The rejected legislation, known as Bill 2064, aimed to implement MiCA standards into Polish law. A similar proposal, Bill 1424, was vetoed in December. Without an adopted framework, Poland has yet to designate a competent supervisory authority, a gap recently highlighted by the Polish Financial Supervision Authority (KNF). The regulator warned that the MiCA transition period ends on July 1, 2026.
Regulatory Asymmetry Favors Foreign Crypto Exchanges
The absence of local implementation creates an uneven playing field. Foreign firms licensed under MiCA in other EU states can passport services into Poland, while domestic companies lack a formal pathway to obtain authorization at home.
Coinbase recently expanded its Polish presence after securing a MiCA license in Luxembourg in 2025. Meanwhile, regional players such as Zonda Crypto, originally established in Poland but now registered in Estonia, have opted to pursue licensing abroad.
Debate Over Overregulation and Industry Growth
President Nawrocki described the proposed legislation as overly restrictive and “practically identical” to the earlier rejected bill. Critics argued the framework risked overregulation that could hinder innovation and competitiveness.
Economist Krzysztof Piech has indicated that a revised, more industry-friendly draft is being finalized, signaling potential new efforts to balance compliance with innovation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.