Poland's Crypto Regulatory Vacuum Widens After Veto Override Vote Falls Short

Poland remains the only European Union member state without a domestic framework for regulating cryptocurrency markets after its parliament failed to override President Karol Nawrocki's veto of a proposed crypto law. The Sejm, Poland's lower house, voted 241 to 198 in favor of overriding the veto but fell short of the required three-fifths supermajority by 25 votes.

The bill would have placed cryptocurrency firms under the Polish Financial Supervision Authority (KNF) and aligned domestic rules with the EU's Markets in Crypto-Assets Regulation (MiCA). However, President Nawrocki argued that the proposed rules create excessive burdens and could drive companies abroad, leaving an estimated 2,000 crypto firms unable to obtain domestic authorization.

Poland is now joining Germany, France, and other European countries in having authorized crypto-asset service providers operating under nearly identical rules. The regulatory vacuum deepens as the Zondacrypto fraud investigation widens, with losses exceeding 350 million zlotys and the exchange's Estonian operator declared bankrupt in August 2026.