The battle over how Poland should handle digital assets has shifted from a technical regulatory discussion to a defining clash over government priorities.
Key Takeaways
- The veto centers on control and economic freedom rather than crypto itself.
- Officials say the decision exposes citizens to risk; advocates say the law would have killed innovation.
- MiCA’s upcoming EU-wide rules make Poland’s next move decisive for its competitiveness.
The trigger was not the existence of crypto itself, but the question of who should shape its future: the state, the market or Brussels.
President Karol Nawrocki has blocked the Crypto-Asset Market Act, cutting short a legislative process most legislators believed was already settled. The president called the law dangerous — not because it attempted to regulate crypto, but because it handed the state sweeping control over the sector.
The Veto Was Really About Power, Not Bitcoin
According to the president’s office, the law would have enabled authorities to shut down crypto-related websites with minimal oversight. To Nawrocki, that represented a precedent far beyond digital assets — a mechanism that could threaten economic freedom, weaken local startups and place unprecedented leverage in the hands of regulators.
He also criticized the bill’s massive scope and cost burden, arguing that it would push innovators to friendlier hubs like Lithuania and Malta — a migration that has already happened in the gaming and fintech industries.
Rather than “protecting citizens,” the president claimed, the bill risked locking Poland out of the European digital-asset boom while benefiting large foreign companies that can absorb higher supervision fees.
Supporters of the Bill Say the Veto Is Reckless
The reaction from government officials was immediate — and vicious. Finance Minister Andrzej Domański and Deputy Prime Minister Radosław Sikorski both accused the president of abandoning consumers to scammers and speculation.
They argued that without rapid intervention, Poland could face a flood of financial losses once the next crypto downturn arrives. Sikorski stated that if thousands of Poles lose savings to digital-asset fraud, “the responsibility will be clear.”
For critics, Nawrocki’s veto is not a defense of freedom — it is a refusal to acknowledge real risk.
Crypto Sector Says the State Is the Real Risk
Industry leaders pushed back, saying the bill would have built a wall rather than a regulatory framework. They insist that allowing the government to arbitrarily block online crypto platforms would have been a gift to offshore players and a death sentence for domestic startups.
Economist Krzysztof Piech and others argued that Poland was close to repeating mistakes of other European markets — driving entrepreneurs out before EU-wide rules arrive. MiCA, which launches across the European Union in July 2026, will unify protections for digital-asset users anyway, they say.
From their perspective, the veto prevents Poland from building an outdated regulatory system only to tear it down once MiCA becomes mandatory.
Poland Must Now Choose a Direction
The veto leaves lawmakers with two options: rewrite the legislation in a way that supports innovation instead of policing it, or attempt to override the president and gamble that voters will support strict enforcement even if it costs Poland tech leadership.
For now, nothing changes for crypto businesses operating in Poland — except that the debate has moved from parliament chambers to the national spotlight.
And whichever side wins will determine whether Poland positions itself as a European hub for digital-asset innovation — or an outlier in the region.
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Source: https://coindoo.com/polands-president-blocks-new-crypto-law/