Poland OKs MiCA-aligned crypto bill giving KNF blocking powers

Poland’s Sejm approved a government-backed bill on Friday to align national crypto rules with the EU’s Markets in Crypto-Assets Regulation. Lawmakers passed bill No. 2529 in a 241–200 vote during the chamber’s 57th sitting in Warsaw.

The measure grants the Polish Financial Supervision Authority (KNF) powers to supervise crypto market participants, levy administrative penalties and carry out temporary blocks on accounts, transactions and internet domains tied to crypto activity. The text that passed the Sejm is a consolidated committee draft that combines the government proposal with three competing bills.

Competing drafts included a version submitted by the president (No. 2528), a proposal from the Confederation party (No. 2530) and a parliamentary group draft (No. 2363). The opposition Law and Justice party also put forward a separate draft seeking a full ban on crypto activity in Poland.

The approved bill follows two earlier government-drafted versions that President Karol Nawrocki vetoed. Lawmakers selected the consolidated, state-backed approach in this session to try to resolve differences among the competing proposals.

Market participants and crypto commentators criticized the legislation’s enforcement provisions, noting that the account and domain blocking powers remain largely unchanged from the texts the president rejected. Proposed safeguards such as strengthened judicial review of blocking orders were not included in the final text, and some observers said they expect the president to consider another veto.

The parliamentary debate was intensified by a fraud investigation into the exchange Zondacrypto. Prosecutors opened the probe after users reported problems withdrawing funds. Thousands of customers were affected and the issue drew attention from national authorities. Prime Minister Donald Tusk alleged links between Zondacrypto and Russian capital and influence and attributed delays in regulatory action to the lack of a full investor protection framework.

Supporters of the bill argue that clearer supervisory powers will help authorities respond to fraud and operational failures. Opponents say the measure concentrates enforcement authority in the KNF without adding judicial checks.

With Sejm passage complete, the bill now goes to the president for final approval or veto. If signed, Poland will implement a MiCA compliance regime before upcoming EU implementation deadlines in July; if vetoed, the legislation will return to parliament for further revision.