Polish president vetoes crypto bill for third time ahead of MiCA deadline

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Polish president vetoes

Third veto

The president said that only one of 16 key comments submitted by his office was included in the final version of the legislation. As a result, the bill differed little from the previous two versions that he had also refused to sign.

The third veto could complicate Poland's efforts to align its legislation with MiCA requirements. The EU's transitional period for crypto regulation expires on July 1.

After that date, crypto-asset service providers will be required to obtain a license or stop serving customers in the European Union.

Poland without MiCA?

Poland currently remains the only EU member state that has not completed the implementation of MiCA at the national level.

If the situation remains unresolved by the end of the transitional period, Polish crypto companies without the required licenses could face legal restrictions when serving clients from other EU countries.

Nawrocki's decision triggered a sharp response from Prime Minister Donald Tusk. In a post on X, he criticized the latest veto and said the president was "more closely connected to this issue than many had assumed."

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It remains unclear how the government plans to address the issue before the new European rules take full effect.

Zonda investigation adds pressure to the market

Additional attention has been drawn to Poland's crypto industry by an investigation involving one of the country's largest exchanges, Zonda. According to media reports, prosecutors are examining possible fraud and money laundering allegations that may have affected around 2,000 platform users.

The investigation was reportedly prompted by a report from analytics firm Recoveris, which claimed the exchange may have faced solvency issues following a reduction in balances held in its hot wallets.

Although the company is not included in our list of top crypto exchanges operating in Poland, it maintains a sizable customer base.

Zonda CEO Przemyslaw Kral previously said the company does not have access to one of its cold wallets containing approximately 4,500 BTC. According to him, the keys were supposed to be held by exchange founder Sylwester Suszek, who has been missing since 2022.

Earlier, we reported that Hungary's government announced plans to repeal criminal penalties for certain crypto-asset transactions following criticism from the European Union.

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