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Third veto before MiCA
Polish President Karol Nawrocki vetoed a cryptocurrency regulatory bill for the third consecutive time, again citing concerns that the government did not incorporate key amendments proposed by his office.
“Summary - The Polish president exercised a third veto on a cryptocurrency regulation bill, delaying adoption of the EU crypto regulation MiCA”
The veto delays Poland’s domestic implementation of Europe’s Markets in Crypto-Assets (MiCA) framework as the EU’s transitional deadline approaches, with the July 1 end of MiCA’s transitional period highlighted across coverage.
MEXC’s account says Nawrocki told the public that the government adopted only one of 16 key amendments put forward by his office, and that Poland remains the only EU member state without a domestic MiCA transposition mechanism.
Bloomingbit similarly frames the decision as leaving Poland the only EU member state that has not implemented MiCA, warning that from July 1 Poland-based crypto companies without a MiCA license could lose the legal basis to provide services in the EU.
In the same dispute, the Kancelaria Prawna Skarbiec analysis argues that MiCA is directly applicable and that the veto suspends Poland’s institutional capacity to confer authorizations rather than MiCA’s substantive obligations.
KNF, passporting, and legal risk
Multiple sources tie the veto to the absence of a functioning domestic regulator, with the blocked bill described as the mechanism that would have made the Polish Financial Supervision Authority (KNF) the main regulator for crypto-asset service providers.
TVP World says the blocked law would have made KNF the regulator for crypto-asset service providers and that each member state needs a national authority to issue licences, supervise firms and enforce the rules.
The Crypto Times adds that without the local legal structure active, the KNF cannot grant MiCA-compliant licenses to local operators, leaving Polish Crypto Asset Service Providers unable to leverage the EU “passporting” privileges.
Kancelaria Prawna Skarbiec goes further in its legal framing, saying that on ESMA’s official list of competent authorities notified under MiCA, Poland appears with the annotation that its authority has not been formally designated.
In that same legal analysis, it states that for an undertaking with its registered office in Poland, “there exists no counter at which a CASP application may be filed,” because no procedure exists through which satisfaction could be demonstrated.
Zondacrypto scrutiny and stakes
Coverage links the veto to intensifying law-enforcement scrutiny of Poland’s crypto sector, including a probe involving Zondacrypto alongside the MiCA deadline.
“One day, Simba, everything you see will be German”
MEXC says prosecutors are reportedly investigating Zonda for suspected fraud and money laundering tied to alleged activity involving 2,000 customers and alleged links to Russian organized crime.
Cointelegraph adds that the third veto comes nearly two months after Poland’s parliament failed to reverse the second veto, and it repeats that prosecutors are investigating Zondacrypto for suspected fraud and money laundering involving 2,000 customers.
TVP World quotes Prime Minister Donald Tusk arguing that the veto leaves consumers exposed and prevents Poland implementing the European Union’s crypto rules, while also describing Tusk’s X post that says, “He is probably more entangled in this than we all thought.”
Against that backdrop, Nawrocki is quoted in The Crypto Times saying, “I support regulating this market. I support consumer protection, but it must be done effectively,” and that “The bill will be signed into law if it is amended.”
