Poland's Crypto Bill Stalls Amid Zondacrypto Investigation

Poland's lawmakers have once again fallen short of the supermajority needed to override President Karol Nawrocki's veto of a bill intended to tighten oversight of the country's crypto market. On Friday, the Sejm voted 241-198 in favor of overriding the veto, with three abstentions, leaving the proposal 25 votes short of the 266 required for passage.

The vote was the latest attempt to move the legislation forward after Nawrocki vetoed similar crypto rules three separate times, arguing that the draft would impose excessive constraints on the industry. The renewed push comes as Prime Minister Donald Tusk highlights an expanding criminal investigation tied to the defunct exchange Zondacrypto, an issue that has added urgency for regulators and lawmakers to formalize a clearer supervisory framework.

The lack of a designated national supervisor for cryptoassets under the proposed framework is a concern, despite the EU's MiCA regime already applying across member states. KNF said on Friday that Poland still lacks an authority responsible for supervising the cryptoasset market, leaving the market awaiting a clearer chain of responsibility.