Poland's Crypto Bill Override Vote Falls Short Amid Zondacrypto Scandal
Poland's lawmakers again fell short of the supermajority needed to override President Karol Nawrocki's veto of a crypto bill, this time by just 25 votes. Despite voting 241-198 in favor of overriding the veto, with three abstentions, the Sejm did not meet the 266-vote threshold required for passage.
The bill aimed to assign supervision of the crypto market to Poland's Financial Supervision Authority (KNF), in line with the EU's Markets in Crypto-Assets Regulation (MiCA). However, KNF has stated that Poland still lacks a designated authority responsible for supervising the cryptoasset market, despite MiCA applying across the European Union.
The failed override vote came as prosecutors investigate suspected fraud and money laundering tied to the failed crypto exchange Zondacrypto. The investigation is linked to the disappearance of Sylwester Suszek, founder of BitBay, which was later renamed Zondacrypto. Prosecutors estimate losses at no less than 350 million PLN ($95 million).
The Zondacrypto case has highlighted the need for clear oversight structures in Poland, particularly around exchanges and custody-related risks. The standoff between lawmakers and President Nawrocki underscores a broader tension in the EU's post-MiCA transition, where member states control the speed and structure of enforcement through domestic legislation.