Polish President Karol Nawrocki has vetoed the country’s cryptocurrency regulation bill for a third time, creating further uncertainty for the local digital asset industry as a key European Union compliance deadline approaches.
The legislation was designed to align Poland’s crypto framework with the EU’s Markets in Crypto-Assets (MiCA) regulation, which establishes a unified regulatory regime for crypto companies operating across the bloc. The bill had been approved by lawmakers earlier this year but failed to secure presidential approval.
Nawrocki said the latest version of the legislation did not adequately address concerns previously raised by his office. While supporting the need for crypto regulation and investor protection, the president argued that several proposed amendments and recommendations were not reflected in the final draft.
The repeated veto leaves Poland without a fully implemented national framework for MiCA as the July 1 compliance deadline draws closer. The regulation requires EU member states to establish supervisory structures and licensing procedures for crypto-asset service providers operating within their jurisdictions.
Industry participants have expressed concerns that the delay could complicate operations for crypto firms seeking regulatory clarity. Without a domestic implementation framework, companies may face uncertainty regarding licensing, supervision, and their ability to benefit from MiCA’s passporting provisions across the European Union.
The proposed legislation would have designated Poland’s financial regulator as the primary authority responsible for overseeing the crypto sector. It also included provisions covering licensing requirements, reporting obligations, compliance standards, and enforcement powers for crypto businesses operating in the country.
The latest veto continues a legislative standoff that has stretched over several months. Previous versions of the bill were also rejected, and attempts to overcome earlier vetoes failed to secure the parliamentary majority required to move the legislation forward.
The delay comes at a critical time for Poland’s digital asset sector. MiCA is widely regarded as one of the most comprehensive crypto regulatory frameworks globally, providing standardized rules for exchanges, custodians, stablecoin issuers, and other crypto service providers across the EU.
With the deadline approaching, market participants are closely monitoring whether lawmakers will introduce another revised proposal capable of securing presidential approval. Until then, Poland remains one of the few jurisdictions in the European Union still working toward full implementation of the bloc’s crypto regulatory framework.