Poland’s coalition revives crypto bill, keeps text intact

Poland’s Polska2050, part of the ruling coalition, reintroduced to the Sejm on Tuesday a crypto bill identical to a version President Karol Nawrocki vetoed days earlier. The draft would designate the Polish Financial Supervision Authority (KNF) as the primary crypto regulator during the European Union’s Markets in Crypto-Assets rollout.

Backers, including Polska2050 lawmaker Adam Gomoła, present Bill 2050 as an improved successor to the vetoed Bill 1424. Government spokesman Adam Szłapka countered that “not even a comma” has changed.

The text keeps market oversight at the national level by assigning supervision to the KNF, reviving a policy fight over whether MiCA should be policed mainly by domestic authorities or at the EU level by the European Securities and Markets Authority.

Critics led by Polish politician Tomasz Mentzen have called the first version “118 pages of overregulation,” contrasting it with shorter laws in Hungary and Romania. “The government has once again adopted exactly the same bill on cryptoassets,” Mentzen wrote on X. He also responded to Prime Minister Donald Tusk’s earlier claim that the veto was tied to a “Russian mafia,” adding: “The bill is perfect, and anyone who thinks otherwise is funded by Putin.”

The dispute has deepened tensions between Nawrocki and Tusk as lawmakers work to prepare for MiCA’s full application by July 2026. Szłapka indicated the president is unlikely to veto the bill again after a classified briefing in parliament and “now has full knowledge” of security implications. The president’s office has not issued a final decision.

The broader EU debate centers on whether to concentrate MiCA enforcement at ESMA or leave day-to-day supervision to national regulators. In October, the Bank of France urged giving ESMA direct oversight to avoid fragmented enforcement.

There is also speculation in Warsaw that the president’s staff has reviewed an alternative draft more aligned with MiCA that would limit the KNF’s direct role once the EU framework is fully in place.

Supporters of Bill 2050 argue the proposal clarifies who leads supervision before the EU deadline and strengthens Poland’s readiness for MiCA. Opponents counter that the scope is heavier than in some peer jurisdictions and may steer companies to base operations elsewhere in the bloc.

The Sejm will determine whether to advance the filing or introduce changes. A timetable for further debate has not been announced.

As we reported earlier, on December 5, 2025 the Sejm failed to secure the three‑fifths majority to override President Karol Nawrocki’s veto of the Crypto‑Asset Market Act, leaving the bill dormant and stalling Donald Tusk’s plan for a MiCA‑aligned framework. 

The June proposal, passed by parliament, would have set licensing, conduct and supervision rules for digital‑asset providers. Tusk framed it as a security measure against criminal networks tied to Russia and Belarus. The presidency called it overly complex, citing website blocking and supervisory fees, and said it would consider a redraft. Poland remains the only EU member without MiCA‑implementing rules.