Polish Lawmakers Fail to Override President’s Veto on Crypto Bill

Polish lawmakers failed to override President Karol Nawrocki's veto on a crypto regulation bill. The lower house was 18 votes short of the required three-fifths majority. Prime Minister Donald Tusk highlighted the measure as a national security concern due to Russian sector influence.

The bill aimed to align with the EU's MiCA framework.
Nawrocki cited threats to civil freedoms, unclear domain-blocking powers, and high fees for small firms as reasons for the veto.
Officials warned that the veto leaves consumers vulnerable to fraud and may drive businesses abroad.

Poland's Crypto Sector

By 2025, Poland is expected to have 7.9 million crypto users out of 37 million residents.
Exchanges like Binance and Bitget are registered in Poland.
Poland ranks fifth globally in Bitcoin ATMs.
19% of Poles use crypto, generating an average revenue per user of $173.6.

EU MiCA Implementation

Most EU countries now follow MiCA, effective since December 2024.
Germany, Malta, Netherlands, Luxembourg, Lithuania, and Estonia are leaders in authorizations.
Over 40 CASP licenses issued by September 2025; more than 60% of EU crypto firms compliant.
Poland risks isolation without alignment.

Future Challenges

The veto requires new legislative efforts, deepening political divides.
Crypto firms opposed the bill's terms, marking significant pushback.
An "EU+0" MiCA version is considered to balance protection and growth.
Without action, Poland risks losing tax revenue and innovation opportunities.

Currently, Polish crypto firms lack a compliance roadmap for MiCA, pending official guidance.