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Poland’s President Karol Nawrocki vetoed the country’s Crypto-Asset Market Act on December 1, 2025, creating intense political conflict and affecting over 1 million Polish citizens invested in Bitcoin (CRYPTO: BTC) and other digital assets.
Nawrocki rejected the legislation after concluding it posed genuine threats to civic freedoms and granted excessive power to financial regulators. The president’s office specifically criticized provisions allowing authorities to block crypto websites with minimal oversight.
The vetoed legislation aimed to implement the European Union’s Markets in Crypto-Assets framework domestically. However, the Polish version spanned over 100 pages, significantly longer than implementations in neighboring countries like the Czech Republic, which required only 12 pages.
Major concerns included authority granted to Poland’s Financial Supervision Authority to block websites operated by crypto companies with what critics called a single click mechanism. The presidential office described this provision as vague and easily subject to arbitrary censorship that could harm legitimate businesses.
The legislation also included high supervisory fees that Nawrocki argued would stifle startup growth and favor larger foreign corporations. He warned this would kill competitive markets and threaten innovation in Poland’s emerging crypto sector.
Finance Minister Andrzej Domański strongly condemned the veto, accusing the president of choosing chaos over accountability. He warned that existing market conditions leave Polish citizens vulnerable to fraud, claiming 20% of crypto investors have lost money due to insufficient protections.
Domański emphasized that without proper regulation, Polish consumers face continued exposure to bad actors operating in an unregulated environment. Deputy Prime Minister Radosław Sikorski added that if market turmoil occurs without adequate safeguards, voters would know exactly who to blame.
Polish politician and crypto advocate Tomasz Mentzen had anticipated the veto as the bill cleared parliamentary approval. Industry representatives praised Nawrocki for preventing what they characterized as destructive overregulation that would have driven Polish crypto firms to neighboring countries.
Economist Krzysztof Piech pointed out that the EU’s MiCA standards will take effect across all member states on July 1, 2026, regardless of Poland’s domestic legislation. He argued that existing enforcement mechanisms already provide adequate consumer protection without such restrictive national rules.
Poland now stands as the only EU member state without MiCA implementation ahead of the regulation’s full rollout. The veto sends the legislation back to Poland’s parliament, where lawmakers would need a three-fifths majority to override the presidential decision.
Deputy Finance Minister Jurand Drop had warned that failure to designate a regulatory authority by July 2026 would force crypto firms to register in other EU countries, redirecting fees and tax revenue to foreign jurisdictions.
Polish crypto service providers will continue operating under existing national anti-money laundering frameworks until either parliament overrides the veto or new legislation is introduced. This interim period creates uncertainty for businesses seeking clear regulatory guidelines.
The clash contrasts sharply with broader European trends toward regulatory clarity. Germany’s financial regulator BaFin has already issued multiple MiCA licenses to crypto custodians and exchanges, while other nations have streamlined implementations.
Poland’s regulatory standoff highlights ongoing tensions between protecting consumers from crypto market risks and preserving innovation-friendly environments that prevent capital flight to competing jurisdictions. The outcome could influence how other EU members balance these competing priorities as the December 2026 deadline approaches.
For now, Polish crypto investors and businesses face continued uncertainty while government officials and the president’s administration remain locked in a high-stakes political battle over the future of digital asset regulation in the country.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
Posted In: $BTC
