Poland’s Parliament Votes to Regulate Crypto… and the President’s Head Exploded (Probably)

by

Poland’s lower house has resurrected a crypto bill so controversial it made a zombie shudder. Now, the Senate gets to play with it, because apparently, nobody’s scared of a bit of regulatory chaos.

Poland’s parliament has moved forward with a controversial crypto regulation bill after overriding a presidential veto. The country’s lower house, the Sejm, passed the Crypto-Assets Market Act again after renewed debate. As a result, the legislation now heads to the Senate for further consideration. 🐍

Sejm Pushes Forward Disputed Crypto Law After Veto

Lawmakers passed the bill in a vote on Thursday with 241 in favor and 183 against. President Karol Nawrocki had previously vetoed an earlier version. However, the Sejm passed the text without modifications, according to one lawmaker. Therefore, the vote was effectively an attack on the president’s previous objections. 🧠💥

But on Friday, parliamentary officials confirmed the transfer of the bill to the Senate. If an agreement is passed there, it will be sent back to President Nawrocki. He may then use his veto power once more. As such, the fate of the bill is uncertain at this point in spite of the latest vote. 🧱

Related Reading: Poland Passes Crypto Asset Market Act, Moves to Senate | Live Bitcoin News

The purpose of the legislation is to bring Poland’s legislation in line with the European Union’s Markets in Crypto-Assets regulation. MiCA is applicable throughout the EU from December 30, 2024. However, national laws are still necessary to create systems of authorization and supervision. Poland still has not finalized such domestic rules. 🗺️

Supporters say the bill enhances oversight of a booming market. Prime Minister Donald Tusk’s government has presented the law as a national security measure. Officials cite money laundering and possible exploitation by hostile foreign actors. Therefore, they are in favor of tighter controls. 🛡️

Industry Pushback Grows Over Strict MiCA Implementation

Despite the progress made by the parliament, local crypto companies have had negative reactions. Industry groups have contended that the bill puts restrictions above MiCA’s baseline requirements. As a result, they indicate excessive compliance costs. Smaller companies might have a hard time complying with licensing and reporting requirements. 🧩

Critics also identify the enhanced powers that were given to the Polish Financial Supervision Authority. The bill makes the KNF the main regulator of crypto asset service providers. It brings to place a strict licensing regime for all CASPs. As a result, operators are afraid of increased enforcement pressure. 🧠⚡

Poland’s crypto industry has been continuing to grow in spite of regulatory uncertainty. Adoption reportedly increased 51 percent in 2025. However, industry representatives say the bill would slow down momentum. They warn businesses may move to jurisdictions within the EU which are more hospitable, such as Germany or the Netherlands. 🌍

The debate is part of larger conflicts in Europe. While MiCA aims for regulatory harmonization, there are large differences in the national interpretations. Some countries have taken lighter approaching. Others, such as Poland, prefer more strict supervision. Therefore, concerns of regulatory arbitrage remain in the single market. 🧩

Another issue of contention concerns transition periods. Existing registered virtual asset service providers can operate under national rules until July 1, 2026, under EU guidance. However, the Polish draft calls for a shorter transition. This difference may give rise to legal disputes if it were enacted. 📅

For now, the progress of the bill is a sign of determination from lawmakers. But industry and the president continue to oppose. As a result, the road to the full implementation of MiCA in Poland is still marked by political and economic friction. 🧱

Read More

2025-12-20 06:50