TLDR
- Poland moves closer to MiCA rules as Zondacrypto probe adds pressure.
- Poland advances crypto bill before EU deadline amid exchange scandal.
- Zondacrypto fallout pushes Poland toward tighter digital asset rules.
- Poland’s crypto bill clears key vote as MiCA deadline draws nearer.
- Poland faces crypto policy test after lawmakers back MiCA-aligned bill
Poland moved closer to full crypto regulation after lawmakers approved a government-backed digital asset bill on Friday. The vote gives Poland a clearer path before the European Union’s MiCA deadline in July. It also comes as a major exchange collapse sharpens pressure on Warsaw.
Sejm Backs Government Crypto Framework
The lower house approved the bill after months of political disputes over digital asset supervision. The proposal aligns Poland with the EU’s Markets in Crypto-Assets Regulation. It now awaits the next stage, where presidential approval remains uncertain.
The bill gives the Polish Financial Supervision Authority wider control over the crypto market. The watchdog can suspend offerings, block accounts, and fine firms that obstruct inspections. Penalties may reach 25 million zlotys under the government’s version.
Poland faces pressure to finalize MiCA rules before the July deadline. Without a domestic framework, local crypto firms could lose authorization to offer services. That risk has made the bill a key market and policy issue.
Zondacrypto Probe Fuels Political Pressure
The vote comes as prosecutors investigate Zondacrypto, once Poland’s largest digital asset exchange. Thousands of users remain unable to withdraw funds from the platform. Authorities estimate total losses at more than 350 million zlotys.
The case has increased public concern over weak oversight and exchange transparency. Prosecutors opened the fraud probe after complaints from affected users grew. The exchange’s past operations now face deeper scrutiny from Polish authorities.
Prime Minister Donald Tusk has linked the platform to alleged Russian criminal influence. He has also cited security service findings tied to the exchange’s funding background. Zondacrypto’s leadership has denied the claims as political pressure expands.
Presidency Could Still Block The Bill
President Karol Nawrocki has already vetoed earlier crypto bills from Tusk’s government. He argued that heavy penalties could push digital asset firms out of Poland. His alternative proposal kept similar rules but reduced the maximum fine.
Other lawmakers have pushed tougher options, including a full ban on crypto activity. That proposal came from Law and Justice party members. However, the Sejm will handle that plan after the main regulatory bills conclude.
Poland now faces a narrow path between EU compliance and domestic political conflict. Supporters say the bill adds clarity after the Zondacrypto collapse. Yet another veto could delay implementation and deepen uncertainty across the sector.
