Poland President Vetoes Crypto Invoice As Corporations Search MiCA Licenses Overseas

Poland’s president vetoed a second invoice meant to align the nation’s crypto guidelines with the European Union’s Markets in Crypto-Property Regulation framework, deepening uncertainty for native platforms as a key transition deadline approaches.

President Karol Nawrocki declined to signal Invoice 2064 final week, marking the second veto of proposed laws to implement the EU’s Markets in Crypto-Property Regulation (MiCA), the president’s workplace mentioned Thursday. Nawrocki vetoed an analogous measure in December and described Invoice 2064 as “virtually similar” to the unique Invoice 1424 vetoed beforehand.

The veto adopted an announcement by the Polish Monetary Supervision Authority (KNF), warning that Poland has not designated a reliable authority to oversee the crypto market, highlighting the MiCA transition deadline of July 1, 2026.

“This doesn’t change our technique,” Kanga Trade co-CEO Sławek Zawadzki advised Cointelegraph.

“From the start, we thought-about the likelihood that the MiCA-implementing legislation in Poland may not enter into drive in time, and we ready various jurisdictional options accordingly,” Zawadzki mentioned.

Payments confronted heavy criticism from crypto supporters

The veto underscores an ongoing debate and divisions inside Poland’s authorities over regulate digital belongings, with Nawrocki signaling a extra trade‑pleasant stance by rejecting the strict laws.

Each proposals drew criticism from crypto market advocates, with Polish politician Tomasz Mentzen describing the laws as in depth “overregulation” that might stifle the sector.

“I cannot signal a incorrect legislation simply because it was handed once more by the parliamentary majority. A incorrect legislation that handed 100 occasions nonetheless stays a incorrect legislation,” Nawrocki mentioned, including: “Poland ought to entice innovation, not push it away.”

Nonetheless, no legislation creates a regulatory imbalance below MiCA

Regardless of trade supporters welcoming the president’s veto, the absence of MiCA‑implementing laws leaves native crypto platforms in a precarious place forward of this summer season’s transition deadlines.

The state of affairs additionally creates a regulatory imbalance between Polish corporations and overseas companies, such because the US crypto change Coinbase, which just lately expanded operations in Poland after securing a MiCA license in Luxembourg in 2025.

“Overseas entities that acquire a MiCA license of their residence international locations will be capable of present companies in Poland, whereas Polish corporations at present haven’t any formal path to start the licensing course of domestically,” Kanga’s Zawadzki advised Cointelegraph. “This leads to regulatory asymmetry,” he added.

Przemysław Kral, CEO of Zonda Crypto — an change initially arrange in Poland however now registered in Estonia — mentioned the regulatory uncertainty is more likely to push many smaller native crypto corporations out of the market.

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“Though we’re an organization with Polish roots and the most important participant within the crypto trade on the Polish market, we now have been working exterior Poland for years,” Kral advised Cointelegraph. The corporate applied a method to acquire a MiCA license exterior Poland and plans to passport the license to the nation.

“We’re assured that we are going to stay a key participant in the marketplace. Nevertheless, many small Polish crypto corporations will lose the chance to function in the marketplace,” the CEO mentioned.

Within the wake of the newest veto, Polish economist Krzysztof Piech mentioned he’s engaged on a brand new, extra crypto-friendly proposal to implement MiCA in Poland. Piech mentioned on social media over the weekend {that a} draft exists and is being finalized.

Cointelegraph approached professor Piech for remark relating to the draft invoice, however had not obtained a response by publication.

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