Poland Fails to Override Crypto Veto Amid Worsening Zondacrypto Scandal

Polish lawmakers have failed to override President Karol Nawrocki's veto of legislation aimed at strengthening oversight of the country's crypto market. The Sejm, Poland's lower house of parliament, voted 241-198 in favor of overriding the veto on Friday, but fell 25 votes short of the required three-fifths majority.

The proposed rules would have established Poland's national framework for applying the European Union's Markets in Crypto-Assets Regulation (MiCA), including placing oversight of the crypto market under the Polish Financial Supervision Authority (KNF). However, Nawrocki has argued that the proposed rules go too far and would overregulate the industry.

The lack of a designated authority responsible for supervising the cryptoasset market in Poland is a concern, as MiCA already applies across the European Union. The country remains without a national crypto supervisor despite the regulatory requirements.