Poland president vetoes MiCA bill again as crypto firms seek licenses abroad

Traders Union
All News
Crypto News
Polands president vetoes MiCA

Deadline approaching

The situation is further complicated by a statement from Poland’s Financial Supervision Authority (KNF), which noted that the country has yet to designate a competent authority to oversee the crypto market. Meanwhile, the MiCA transition period expires on July 1, 2026.

Kanga Exchange said it had anticipated such a scenario. Co-CEO Sławek Zawadzki stated that the company had prepared alternative jurisdictions for licensing in case MiCA implementation in Poland was delayed.

Criticism of “overregulation”

Both legislative proposals faced criticism from some politicians and industry representatives, who described the draft law as “overregulation” that could stifle the market.

Nawrocki said he would not sign a “bad law,” even if it were passed again by the parliamentary majority. In his view, Poland should attract innovation rather than create barriers for it.

Risks for local companies

Despite positive reactions from parts of the crypto community, the absence of implementing legislation creates regulatory imbalance. Foreign companies that have already secured a MiCA license in another EU country can operate in Poland through passporting rights.

For example, Coinbase expanded its operations in Poland after obtaining a MiCA license in Luxembourg in 2025. Meanwhile, Polish firms currently have no formal pathway to apply for a domestic license.

Zonda Crypto CEO Przemysław Kral warned that the uncertainty could push smaller local companies out of the market. Although Zonda has Polish roots, it has operated under Estonian registration for several years and plans to rely on a MiCA license obtained abroad.

Economist Krzysztof Piech has said he is working on a new, more crypto-friendly draft law to implement MiCA in Poland. According to him, the proposal is already prepared and in its final stages.

Cryptocurrency regulation in Poland

Until 2021, Poland’s crypto market operated without dedicated sector-specific regulation. Companies functioned without licenses but were required to comply with AML/KYC rules. In October 2021, Poland introduced a VASP register under the KNF, granting firms legal status but not a full license.

The regulatory landscape changed after the EU adopted MiCA in 2023. The framework became fully applicable to Crypto-Asset Service Providers (CASPs) on December 30, 2024, with a transition period lasting until July 1, 2026.

In 2025, the Polish government drafted the “Act on the Crypto-Asset Market” to designate KNF as the regulator and launch CASP licensing. However, President Nawrocki vetoed the bill twice. As a result, MiCA formally applies in Poland, but there is no functioning licensing mechanism.

Many Polish crypto firms are already relocating their licensing efforts to Lithuania, Estonia, or Latvia.

In effect, Poland has entered a regulatory deadlock. Due to the political standoff between the government and the president, the market remains in uncertainty. If legislation is not passed soon, Poland risks losing its domestically regulated crypto sector once the MiCA transition period ends.

Recall that Spain is moving towards implementing MiCA, as the regulator sets deadlines for firms to comply with the requirements.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.