Poland’s parliament has approved a cryptocurrency bill aligned with the European Union’s Markets in Crypto Assets framework, marking a significant step toward harmonizing domestic rules with broader European standards. Lawmakers voted 241 to 200 in favor of the government backed legislation, which grants the Polish Financial Supervision Authority, known as KNF, comprehensive licensing and enforcement powers over crypto firms operating within the country.
The newly passed bill, designated as No. 2529 and supported by the Ministry of Finance, transposes MiCA requirements into Polish national law. It establishes the KNF as the designated national regulator for crypto assets, creates a formal licensing regime for crypto asset service providers, and empowers the authority to impose administrative sanctions. The regulator would also gain the ability to temporarily block accounts and even domains when necessary to protect investors or maintain market integrity. If fully enacted, this legislation would shift Poland from a fragmented approach relying on general financial rules to a clear, MiCA style regulatory framework covering exchanges, custodians and token issuers.
This legislative milestone represents Poland’s third attempt to implement MiCA domestically, following two previous bills that were vetoed by the president. The current push is driven by two converging pressures: a high profile criminal fraud investigation into Zondacrypto, once a leading Polish exchange, and an EU deadline requiring member states to have MiCA compliant rules in place. Prosecutors estimate that more than 350 million zlotys in user funds remain inaccessible in the Zondacrypto case, affecting thousands of customers. Prime Minister Donald Tusk has publicly connected the investigation to alleged Russian capital flows and national security concerns, intensifying political momentum for stronger oversight and investor protections.
At the European level, MiCA is already operational, and Poland stands among the last member states to transpose the framework into national law. Further delays risk leaving Polish crypto firms without proper authorization while competitors in jurisdictions like Luxembourg and Ireland operate under full MiCA licenses. This dynamic creates strong incentives for domestic companies to either adapt to the new rules or consider relocating to more regulatory certain environments within the EU.
Despite parliamentary approval, the bill is not yet law. President Karol Nawrocki has vetoed two earlier MiCA related bills, expressing concern that high fines and broad blocking powers could drive crypto businesses out of Poland. He retains the authority to veto the current text as well. Adding to the uncertainty, opposition lawmakers have introduced a separate draft that would go much further by banning all crypto asset activity in Poland, though this proposal is only scheduled for debate after the main regulatory bills advance.
Key developments to monitor include how the Senate processes the legislation, whether the president chooses to sign or veto it, potential compromises on penalty structures and regulatory tools, and whether Polish crypto firms begin pursuing MiCA licenses in other EU countries as a risk mitigation strategy. Until the presidential decision becomes clear, Poland remains in a regulatory gray zone. Firms and users should pay close attention to official guidance from the KNF and watch for signs of cross border licensing activity.
Poland’s MiCA based bill represents a major step toward European style crypto regulation, shaped by both a domestic exchange scandal and looming continental deadlines. If the law survives presidential scrutiny, Poland will join the unified MiCA licensing and supervision system, likely strengthening consumer protections while imposing higher compliance demands on crypto firms. If it is vetoed again, regulatory uncertainty will persist and could accelerate the migration of serious Polish crypto businesses to other EU jurisdictions with fully operational MiCA regimes. The coming weeks will determine whether Poland embraces its role in Europe’s coordinated crypto framework or remains on the sidelines of the continent’s digital asset evolution.
