Poland’s political landscape erupted this week after President Karol Nawrocki vetoed a sweeping cryptocurrency regulation bill, arguing that the proposed law would threaten innovation, limit economic freedoms, and harm the country’s competitiveness in the European crypto market.
A Controversial Crypto Bill Blocked
The president refused to sign the Crypto-Asset Market Act, a bill designed to impose strict rules on Poland’s digital asset sector. His decision sparked praise across the crypto community and backlash from several senior government officials.
According to a statement from the president’s press office, the legislation “genuinely threatens the freedoms of Poles, their property, and the stability of the state.” Introduced in June, the bill had already faced strong criticism from crypto advocates and opposition figures, including Polish politician Tomasz Mentzen, who predicted the veto as the bill moved through parliament.
While industry supporters celebrated the decision as a victory for Poland’s crypto ecosystem, government critics argued that President Nawrocki had jeopardized investor protection and regulatory stability.
Key Reasons Behind the Veto
One of the most debated elements of the bill was a provision enabling authorities to quickly block websites operating in the crypto space. The president’s office described these domain-blocking measures as opaque and vulnerable to abuse, warning that they could restrict digital freedoms and disrupt the development of Poland’s blockchain sector.
The office also highlighted the bill’s unusually large size and complexity. Compared with simpler crypto regulatory frameworks in neighboring countries such as the Czech Republic, Slovakia, and Hungary, the proposed law was viewed as an example of unnecessary overregulation that could drive Polish startups abroad.
President Nawrocki warned that high supervisory fees in the bill would disproportionately impact small companies, limiting startup activity and benefiting large foreign corporations and banks at the expense of local innovation. He argued that such a framework “kills off a competitive market and poses a serious threat to innovation.”
Political Backlash: “The President Chose Chaos”
The veto triggered a fierce response from several top officials, including Finance Minister Andrzej Domański and Deputy Prime Minister and Minister of Foreign Affairs Radosław Sikorski.
Domański wrote on X that “already now 20% of clients are losing their money as a result of abuses in this market,” accusing the president of having “chosen chaos” and claiming he now bears full responsibility for any fallout in the digital asset market.
Sikorski echoed the concerns, arguing that the blocked law aimed to bring order to Poland’s crypto sector. He warned that if a major market correction occurs and investors lose savings, “they will know who to thank.”
Crypto Community Responds
Polish economist Krzysztof Piech pushed back against the criticism, stating that the president cannot be blamed for authorities failing to pursue scammers. He also noted that the European Union’s Markets in Crypto-Assets Regulation (MiCA) will provide unified protections for digital asset investors across the EU starting July 1, 2026.
For now, the veto has intensified the national debate over how Poland should balance innovation, investor protection, and regulatory oversight in its fast-growing crypto market.
