TL;DR
- Poland’s Parliament has revived a crypto bill identical to the one vetoed by the president, and the ruling coalition is pushing to pass it without changes.
- The text still spans 84 pages and grants the Financial Supervision Authority full control over the crypto market ahead of MiCA’s mandatory rollout in 2026.
- The debate centers on choosing between a local supervisory model and a centralized EU framework.
Poland has reopened its regulatory discussion with the reintroduction of a crypto bill that President Karol Nawrocki vetoed just days earlier.
The document returned to Parliament unchanged, revealing an open dispute between the executive branch and the governing coalition, which intends to move forward without altering a single line. The proposal, promoted by Polska2050, maintains its 84 pages and designates the Polish Financial Supervision Authority as the body responsible for overseeing the local crypto market.
Poland Seeks Its Own Rules Outside the MiCA Framework
The European Union has already deployed MiCA, and member states are now discussing how to implement a framework that will become mandatory in 2026. Poland’s government aims to establish its own supervisory structure before that deadline, even as critics such as Tomasz Mentzen argue that the bill is redundant. He described it as an overregulated proposal, especially when compared with shorter laws adopted by Hungary or Romania. His assessment was blunt: he said the bill is identical to the one rejected by the president and dismissed the rumors linking the initial veto to alleged threats involving Russian actors.
The bill’s return also highlights a key issue within the European framework: the tension between local supervision and centralized oversight. Some countries, such as France, advocate for a stronger role for the European Securities and Markets Authority to prevent regulatory fragmentation across jurisdictions. Others, like Malta, warn that an overly centralized structure could add layers of control that slow innovation in sectors where technology moves quickly. Poland’s position aligns with the first group and seeks to keep supervision in the hands of its national regulator even as MiCA serves as a common standard.
Poland’s President May Have Shifted His Position
The government believes Nawrocki will not veto the bill again. According to officials, the president received a classified security briefing that may have changed his view of the risks involved. However, local reports mention the existence of an alternative draft that could strike a different balance: a framework more aligned with MiCA and less dependent on direct oversight from the local regulator.
The outcome will shape Poland’s role in MiCA’s implementation and set a precedent for other member states trying to reconcile national rules, EU standards and an industry that needs clear guidelines
