Poland’s President Karol Nawrocki vetoed the Crypto-Asset Market Act to protect freedoms and prevent overregulation, applauding the move by the crypto community while facing government criticism over potential market abuses.
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The veto halts a 100-page bill that could block crypto websites and impose heavy fees, threatening innovation and user access to funds.
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The legislation aimed to align Poland with EU MiCA rules but was criticized for lacking safeguards and driving businesses abroad.
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With 230 votes in favor in the Sejm, the bill’s rejection highlights tensions between regulation and market freedom, as MiCA protections begin in 2026.
Poland’s president vetoes crypto bill amid overregulation fears: Discover how this impacts the EU crypto landscape and safeguards investor freedoms in 2025.
What prompted Poland’s president to veto the Crypto-Asset Market Act?
Poland’s president vetoed the Crypto-Asset Market Act due to concerns over excessive regulation that could undermine freedoms, property rights, and state stability. The 100-page bill, intended to harmonize Polish laws with the EU’s Markets in Crypto-Assets (MiCA) framework, included provisions for blocking crypto firm websites and imposing high supervisory fees. President Karol Nawrocki argued that these measures lacked proportionality and could stifle innovation while favoring foreign entities.
How does the veto affect Poland’s cryptocurrency regulation?
The veto pauses the implementation of new rules that would have empowered authorities to swiftly block domains of crypto operators, a clause widely seen as prone to abuse. Supporters in the crypto sector, including Polish economist Krzysztof Piech, praise the decision as it prevents a stricter-than-necessary local version of MiCA, which is set to provide uniform protections across the EU from July 1, 2026. Piech noted in recent commentary that without such overreach, Polish authorities can focus on pursuing actual scammers rather than broad restrictions.
This development underscores the delicate balance between investor safeguards and market openness. Comparative analysis shows that neighboring countries like the Czech Republic and Slovakia maintain simpler frameworks, attracting crypto businesses through lower barriers. In Poland, the bill’s complexity—spanning multiple revisions since its June 2025 proposal—drew ire from industry figures like politician Tomasz Mentzen, who foresaw the presidential block. Official data from the Sejm indicates the bill passed with 230 yes votes against 196 nays in late September 2025, only to reach the president’s desk on November 12, 2025.
Critics within the government, such as Finance Minister Andrzej Domański, highlight risks in the unregulated space, estimating that 20% of clients have already suffered losses from market abuses. Domański’s statement on social media emphasized accountability, warning of ensuing chaos. Similarly, Deputy Prime Minister Radosław Sikorski cautioned that the veto could leave Poles vulnerable when crypto volatility strikes, potentially costing savings. Yet, the president’s office counters that true protection lies in transparent, balanced laws, not opaque blocking powers that mirror flawed international precedents.
From an economic standpoint, the veto preserves Poland’s competitiveness in the digital asset sector. Excessive fees outlined in the bill could have deterred startups, pushing operations to hubs like Lithuania or Malta where incentives foster growth. Nawrocki explicitly warned that such policies invert logic by harming domestic innovation and tax revenues. This aligns with broader EU trends, where MiCA aims for harmonization without national overkill, as evidenced by expert analyses from bodies like the European Banking Authority.
Frequently Asked Questions
What is the Crypto-Asset Market Act in Poland?
The Crypto-Asset Market Act was a proposed Polish law to regulate cryptocurrency activities, aligning with EU MiCA standards. It included measures for licensing, website blocking, and fees but was vetoed for overregulation risks, ensuring MiCA’s direct application from 2026 provides baseline protections without additional burdens.
Why did government officials criticize the Poland crypto bill veto?
Government figures like Finance Minister Andrzej Domański and Deputy Prime Minister Radosław Sikorski argued the veto invites chaos by delaying safeguards against crypto scams, where losses affect 20% of participants. They stressed the bill’s role in preventing future investor harm, though advocates counter that MiCA sufficiently covers these risks.
Key Takeaways
- Veto protects freedoms: The decision blocks potentially abusive website restrictions, safeguarding user access and property rights in Poland’s crypto market.
- Balances EU compliance: With MiCA rolling out in 2026, Poland avoids redundant overregulation, maintaining competitiveness against neighbors like Czechia.
- Boosts innovation: By rejecting high fees and complexity, the veto encourages domestic startups and prevents capital flight to lighter regimes in the EU.
Conclusion
Poland’s president vetoing the Crypto-Asset Market Act marks a pivotal moment in balancing cryptocurrency regulation with market freedoms, echoing concerns over overregulation that could stifle innovation. As the EU’s MiCA framework takes effect in 2026, this move positions Poland to adopt protections without unnecessary hurdles, fostering a stable environment for digital assets. Stakeholders should monitor upcoming parliamentary responses, as refining the approach could enhance investor confidence and economic growth in the evolving crypto landscape.
