SKN | Poland’s Crypto Law Fails Again, Leaving a MiCA Gap in the EU

Key Points:

• Poland’s Sejm failed for a third time to override President Karol Nawrocki’s veto of the country’s crypto-market legislation, leaving Poland without a functioning national framework for MiCA implementation.
• The September 4 vote produced 241 votes in favor, 198 against and three abstentions, falling 25 votes short of the 266 required.
• The unresolved framework creates uncertainty for crypto businesses seeking authorization in Poland and could influence where firms choose to establish or expand their European operations.

Poland’s attempt to establish a national framework for cryptocurrency regulation has failed again, leaving the country as the only EU member state without a functioning domestic MiCA framework. The latest setback highlights a widening disconnect between Europe’s unified crypto rulebook and Poland’s unresolved national supervisory structure, creating uncertainty for digital-asset businesses operating in one of the region’s larger markets.

Sejm Falls Short for a Third Time

Poland’s lower house, the Sejm, voted on September 4 on whether to override President Karol Nawrocki’s third veto of crypto legislation. Of 442 lawmakers present, 241 supported overriding the veto, 198 opposed it and three abstained. The required three-fifths majority was 266 votes, leaving the effort 25 votes short.

The legislation was designed to establish a domestic framework for the EU’s Markets in Crypto-Assets Regulation, including the designation of the Polish Financial Supervision Authority (KNF) as the national regulator. Without the required parliamentary majority, the veto remains in force and the proposed framework cannot take effect.

Why the MiCA Gap Matters for Crypto Firms

MiCA itself is an EU regulation and has applied across the bloc since December 30, 2024. However, Article 93 requires each member state to designate competent authorities responsible for carrying out MiCA’s functions and duties. ESMA’s framework also requires those authorities to supervise authorization and regulatory compliance for crypto-asset service providers.

This creates a practical issue for Poland. The European rulebook exists, but the national institutional architecture needed to administer it remains unresolved. For crypto businesses, that can affect licensing, supervision, compliance planning and cross-border expansion.

The timing is particularly significant because ESMA has stated that the MiCA transitional period officially expired across the EU on July 1, 2026. After that date, entities providing crypto-asset services to EU clients without the required MiCA authorization are expected to cease those activities. :

Nawrocki’s Objections Keep the Framework Frozen

President Nawrocki has rejected the legislation three times. His latest veto, issued on June 11, followed earlier vetoes in December 2025 and February 2026. He argued that lawmakers had addressed only one of 16 changes proposed by his office and maintained that repeatedly passing substantially similar legislation would not resolve the underlying problems.

The president’s objections have included concerns over regulatory burdens, annual supervisory fees and powers relating to the blocking of websites and accounts. He has argued that overly restrictive rules could push Polish crypto companies toward other jurisdictions.

The government, meanwhile, has argued that stronger supervision is necessary to improve market transparency, reduce abuse and strengthen consumer protection. Prime Minister Donald Tusk also referenced an investigation involving the collapsed Zondacrypto exchange ahead of the vote, adding a broader enforcement dimension to the political dispute.

Regulatory Uncertainty Becomes a Competitive Issue

For investors and crypto businesses, Poland’s situation is less about the immediate effect on token prices and more about jurisdictional certainty. A fragmented national framework can influence where exchanges, custodians, stablecoin businesses and blockchain companies allocate compliance resources and corporate operations.

With the override attempt failing by 25 votes, attention now turns to whether Poland’s government can negotiate a materially revised bill with the presidency. Until then, the country remains an unusual outlier inside Europe’s otherwise increasingly standardized crypto regulatory environment. The next legislative proposal will therefore be watched not only for whether it satisfies MiCA requirements, but also for whether it creates a workable balance between supervisory authority, business costs and market competitiveness.