Poland’s parliament has failed to overturn President Karol Nawrocki’s veto of legislation intended to regulate the country’s cryptocurrency sector.
The Sejm voted 241-198, with three abstentions. Overriding the veto required 266 votes, leaving the effort 25 votes short.
The legislation would have designated Poland’s Financial Supervision Authority, the KNF, as the country’s crypto regulator and created a domestic implementation framework around the European Union’s Markets in Crypto-Assets regime.
Nawrocki has argued that the proposed rules would impose excessive compliance burdens, expand regulatory power too far and potentially drive Polish crypto businesses abroad.
The failed override comes as Poland investigates the collapsed Zondacrypto exchange. Its Estonian operator, BB Trade Estonia, was declared bankrupt in August, while Polish authorities are investigating suspected fraud and money laundering.
Prime Minister Donald Tusk cited the Zondacrypto investigation immediately before the vote while arguing for stronger crypto oversight.
TOKEN RECON ASSESSMENT
Poland is now caught between two competing regulatory risks.
Move too aggressively and domestic crypto businesses may leave.
Move too slowly and major exchange failures can strengthen the argument that customers were under-protected.
With MiCA already reshaping the European market, Poland’s unresolved domestic framework creates regulatory uncertainty at exactly the wrong time.
