Poland has failed to pass a law on crypto-assets after two years of legislative work. On July 1, the transition period for the EU’s Markets in Crypto-Assets Regulation expires, and many firms operating under Polish jurisdiction may be forced to halt operations or relocate abroad. Three presidential vetoes and a last-minute opposition bill have not broken the deadlock.
Since 2024, the Polish government has prepared three versions of the Crypto-Asset Market Act. President Karol Nawrocki vetoed each one. The latest veto was sent to the Sejm on June 11 and referred to the Public Finance Committee on June 17. The president consistently argued that the government was using MiCA implementation as a pretext to create a much broader surveillance system.
– Bad law does not become good just because it has been voted on a hundred times – said President Karol Nawrocki, announcing the third veto. He accused the government of waging a war against a 'crypto-shadow’ rather than solving the market’s real problems.
Political stalemate leaves businesses in limbo
The Ministry of Finance insists the law is essential for full MiCA application, investor protection, and equipping the Polish Financial Supervision Authority with necessary tools. The ministry also notes that the May version of the bill was 'substantively identical’ to earlier drafts, differing mainly in stricter penalties.
On June 18, a group of MPs from the Poland 2050 party submitted a competing bill, authored by MP Adam Gomoła. The proposal removes the provisions that triggered the presidential vetoes and cuts maximum supervisory fees charged by the Financial Supervision Authority by fivefold. However, the next Sejm sitting is scheduled for July 1-3, and neither bill is on the agenda as of June 24. Even if both were fast-tracked, the full legislative process cannot be completed before the MiCA deadline.
Firms flee to friendlier jurisdictions
Major crypto exchanges and brokers have long anticipated the Polish deadlock. Many have already obtained Crypto-Asset Service Provider licences in Lithuania, Estonia, Malta, Cyprus, or Germany. These licences can be passport‑ported across the EU.
Smaller firms, including local crypto exchanges registered only under the Polish virtual currency register, face a much harder path. Securing a foreign CASP authorisation requires costly compliance procedures, new capital requirements, and setting up operational structures outside Poland. Without a Polish law, many will lose the ability to legally offer services from July 1.
Legal risks for the state
Legal analysis by attorney Robert Nogacki of Skarbiec Law Firm indicates that businesses may seek damages from the State Treasury for legislative inaction. Under Article 417¹ §4 of the Polish Civil Code, compensation is possible if a specific loss results from the failure to issue a required normative act.
Nogacki noted that mere delay does not automatically make the state liable. Firms must prove a legal obligation to pass specific regulations and demonstrate concrete economic harm, such as lost market opportunities, incurred costs, or foregone revenue.
The EU regulations will take effect regardless of the political standoff in Warsaw. The question is no longer whether the market will be regulated, but how many Polish entrepreneurs will still be operating under their home jurisdiction.
Źródło: WNP.PL, Fot. Mc_Cloud / Shutterstock
