TLDR:
- Poland remains the only EU member state yet to comply with the bloc’s 2024 crypto-asset directive.
- Parliament secured 243 votes to override the veto but fell 20 votes short of the required 263 threshold.
- Finance Minister Domański warned the regulatory gap turns Poland’s crypto market into a fraud haven.
- PM Tusk alleged Zondacrypto was founded with Russian mafia funds, citing Polish intelligence agencies.
Poland’s crypto regulation bill has suffered another setback after a second failed parliamentary vote. On Friday, 243 MPs voted to override President Karol Nawrocki’s veto, short of the 263 required.
This marked the second unsuccessful attempt by Prime Minister Tusk’s government to advance the bill. The legislation seeks to align Poland with EU crypto-asset rules active since 2024. Poland remains the only EU member state yet to comply with the directive.
Parliament Falls Short of Override Threshold Again
Friday’s vote was the second parliamentary attempt to override Nawrocki’s veto on the crypto regulation bill. The first veto was issued in December last year.
In the latest count, 191 MPs supported the veto while 243 voted against it. Neither figure reached the 263-vote threshold needed to reverse the president’s decision.
Tusk’s coalition argues the bill is vital for protecting consumers and investors in Poland. The government says it would shield the crypto market from foreign exploitation and sabotage.
It would also strengthen Poland’s standing in the EU’s broader regulatory framework. The coalition views compliance with EU crypto standards as an urgent national priority.
President Nawrocki, backed by the opposition Law and Justice party, has vetoed the bill twice. His office cited overregulation, lack of transparency, and burdens on small businesses.
In December, the president’s office stated the bill “threatens the freedom of Poles, their property and the stability of the state.” Nawrocki has since returned it to parliament for amendments on both occasions.
Finance Minister Andrzej Domański was direct in his response after Friday’s vote. He warned that without regulation, Poland’s crypto market becomes an “El Dorado for fraudsters.”
Domański added that investors risk losing savings without proper legal safeguards. He also noted the veto leaves consumers and entrepreneurs exposed to unfair market practices.
Zondacrypto Allegations Deepen the Political Dispute
The debate has also centered on Zondacrypto, Poland’s largest cryptocurrency exchange. The platform lobbied against Tusk’s regulatory bill.
Citing the ABW domestic security agency, Tusk accused CEO Przemysław Kral of funding foundations linked to opposition figures. Among them is former Justice Minister Zbigniew Ziobro, who faces multiple charges in Poland.
On Friday, Tusk escalated his claims, alleging Zondacrypto was founded with Russian mafia money. He also alleged ties between the platform and Russian intelligence services.
“The problem is that this company, with such sources, has become a company that sponsors political and social events in Poland and promotes very specific political forces,” Tusk said. Polish intelligence agencies were cited as the basis for those claims.
Kral denied the allegations and rejected reports of operational issues at Zondacrypto. Those reports cited withdrawal difficulties and unpaid sponsorship partners.
He added that he does not hold the key to a $330 million crypto wallet. Former CEO Sylwester Suszek, who vanished in 2022, reportedly never transferred it to him before disappearing.
Interior Minister Marcin Kierwiński confirmed the government will press on with crypto regulation. He stated the effort will continue “until we succeed, until the awareness of the threats and these strange interests connecting certain right-wing politicians with this exchange finally reaches the president.”
Poland’s path to EU crypto compliance remains politically contested. The government remains committed to achieving full regulatory alignment with the EU.
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