CoinDesk reports that on April 21 (UTC+8), Poland’s Sejm once again failed to override President Karol Nawrocki’s veto of the cryptocurrency regulatory bill, preventing the country from meeting the deadline to align with the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework. Poland is currently the only EU member state that has not yet implemented MiCA, and the transition period for the framework ends on July 1. Due to regulatory uncertainty, Polish crypto firms such as Kanga and Zonda Crypto are considering or have already relocated their operations to more policy-friendly jurisdictions including Latvia, the Czech Republic, Lithuania, or Malta. President Nawrocki argues that the bill imposes excessive regulation: its draft exceeds 300 pages—far longer than those of other member states—and grants excessive power to Poland’s Financial Supervision Authority (KNF), including the authority to block websites and impose heavy fines, potentially harming small businesses. Previously, Polish Prime Minister Donald Tusk accused Zonda Crypto of involvement in illicit funds and ties to specific political factions, further deepening political divisions and contributing to the legislative delay.
Poland’s crypto legislation stalls, local firms consider relocation
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Summary
Poland’s crypto legislation remains stalled as parliament once again failed to override President Karol Nawrocki’s veto of the MiCA (EU Markets in Crypto-Assets Regulation) bill. With the EU’s MiCA compliance deadline rapidly approaching on July 1, Poland is the only member state yet to act. Amid regulatory uncertainty, firms such as Kanga and Zonda Crypto are considering relocating to crypto-friendly jurisdictions. President Nawrocki criticized the bill for excessive authority, including provisions granting the KNF the power to block websites and impose heavy fines. The impasse has heightened political tensions, with Prime Minister Donald Tusk previously accusing Zonda of handling illicit funds and maintaining political connections.
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