Poland’s Third Attempt to Override Crypto Veto Falls Short

Poland is the sole European Union country still lacking a functioning national framework for the EU’s Markets in Crypto‑Assets (MiCA) regulation. The lower house of parliament, the Sejm, voted on Friday to override President Karol Nawrocki’s veto of a crypto‑regulation bill, but the motion fell 25 votes short of the required three‑fifths majority.

Vote Results and Legislative Context

Out of 442 lawmakers present, 241 voted to override the veto, 198 opposed, and three abstained. The 266 votes needed to overturn the president’s decision were not reached. This was the third attempt to reverse Nawrocki’s veto; the president first rejected the legislation in December and has now vetoed it three times.

President’s Reasoning

In his latest statement, Nawrocki argued that lawmakers had addressed only one of the sixteen changes his office proposed. He emphasized that “bad law does not become good law simply because it passes a hundred times.”

Implications for Polish Crypto Regulation

The bill would have designated the Financial Supervision Authority (KNF) as Poland’s official crypto regulator, aligning domestic rules with MiCA. All EU members were required to implement MiCA by July 2026, a deadline Poland has now missed.

Political and Legal Backdrop

The regulatory stalemate coincides with a criminal investigation into Zondacrypto (formerly BitBay). Prosecutors link the case to the 2022 disappearance of BitBay founder Sylwester Suszek and estimate investor losses of at least 350 million zlotys (about $95 million). The scandal has involved high‑profile figures, including the Olympic Committee President and the Estonian operator of Zondacrypto, which was declared bankrupt in August.

Future Outlook

With the veto remaining in force, Polish crypto firms continue to face uncertainty regarding licensing and enforcement. The KNF has acknowledged the absence of a designated authority for the sector. Whether a revised bill can address the president’s objections and secure parliamentary approval remains uncertain as the country moves toward the fall legislative session.