President Nawrocki’s Crypto Regulation Veto Divides Poland’s Government and Industry
Poland’s political landscape was shaken this week after President Karol Nawrocki vetoed the Crypto-Asset Market Act, a highly contentious bill that would have imposed strict new rules on the country’s crypto sector.
In a statement that immediately sparked nationwide debate, the president argued the legislation “threatened the freedoms of Poles, their property, and the stability of the state.” His refusal to sign the measure has been hailed as a victory for innovation by crypto advocates—but condemned as reckless by leading government officials.
The bill, introduced in June and passed by Poland’s parliament (Sejm), was widely criticized for introducing far-reaching oversight powers and heavy compliance burdens. Political figures such as Tomasz Mentzen had predicted Nawrocki would reject it, calling it a danger to Poland’s growing digital-asset ecosystem.
Why President Nawrocki Issued the Poland Crypto Regulation Veto
According to the president’s office, one of the most troubling aspects of the bill was a provision that allowed authorities to easily block websites involved in the crypto market—a power critics say could be abused.
The president said such “opaque domain-blocking laws” risk eroding digital rights and undermining trust in the government.
Another key issue was the bill’s sheer complexity. At more than 100 pages, it was criticized as an overly dense, unintuitive framework that risked “overregulation,” especially when compared to more flexible systems in neighboring countries like the Czech Republic, Slovakia, and Hungary.
Nawrocki warned that excessive regulation would drive Polish crypto businesses abroad:
“Overregulation is an easy way to push companies to the Czech Republic, Lithuania, or Malta. We should create conditions for them to operate and pay taxes in Poland—not chase them away.”
He further argued that the bill’s proposed supervisory fees were so high they would crush startups, giving large banks and foreign corporations a significant advantage.
“This is a reversal of logic—killing a competitive market and posing a serious threat to innovation,” the president added.
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Government Officials Lash Out: “The President Chose Chaos”
The veto unleashed immediate backlash from top Polish officials, who accused Nawrocki of sabotaging crucial market protections.
Finance Minister Andrzej Domański warned that abuses in the crypto sector were already harming consumers:
“Twenty percent of clients are losing money due to scams. The president has chosen chaos—he now bears full responsibility.”
Deputy Prime Minister and Foreign Affairs Minister Radosław Sikorski echoed this criticism, arguing that the bill was essential to avoid financial disaster.
He warned that if the crypto bubble bursts and citizens lose their savings, “they will know who to thank.”
Crypto Experts Defend the Veto, Pointing to MiCA’s Incoming EU Protections
Leading Polish economist Krzysztof Piech rejected the government’s claims, arguing that Nawrocki cannot be blamed for law enforcement failures to address crypto fraud.
He also reminded the public that the European Union’s MiCA regulations (Markets in Crypto-Assets) — a comprehensive set of investor-protection rules — will take effect on July 1, 2026 across all EU member states, including Poland.
Supporters say this makes the rejected bill unnecessary and even harmful, as MiCA will soon provide a unified and transparent framework for crypto oversight throughout Europe.
