Poland’s President Karol Nawrocki has refused to sign a sweeping crypto-regulation bill, a move that won applause from the crypto sector but triggered backlash within the government.
Nawrocki vetoed the Crypto-Asset Market Act, warning that its measures “pose real risks to the freedoms and property of Poles, as well as to the stability of the state,” according to a statement from his office on Monday.
The bill, introduced in June, had faced strong pushback from industry supporters. Polish politician Tomasz Mentzen, a vocal critic of the legislation, had predicted the president would reject it even after it passed parliament.
While crypto advocates hailed the veto as a victory, several government officials blasted the decision, accusing the president of “choosing chaos” and saying he must take full responsibility for the consequences.
Why Nawrocki vetoed the bill
A key point of contention was a clause that would allow authorities to swiftly block websites involved in crypto-related activity.
“Domain-blocking laws lack transparency and are vulnerable to abuse,” the president’s office said in an official statement.
It also criticized the bill’s excessive length and complexity, arguing that it would create unnecessary “overregulation,” especially compared with simpler approaches adopted in neighboring countries such as the Czech Republic, Slovakia, and Hungary.
President Karol Nawrocki argued that the bill’s heavy-handed approach would ultimately push crypto businesses out of Poland.
“Overregulation is an easy way to drive companies to the Czech Republic, Lithuania or Malta, instead of creating conditions for them to operate and pay taxes here,” he said.
Nawrocki also pointed to high supervisory fees that could stifle startups while giving an advantage to large foreign firms and banks.
“This flips the logic on its head, destroys market competition, and poses a serious threat to innovation,” he warned.
Critics respond: “The president chose chaos”
The veto sparked immediate criticism from senior government figures, including Finance Minister Andrzej Domański and Deputy Prime Minister and Foreign Affairs Minister Radosław Sikorski.
Domański wrote on X that “20% of clients are already losing money because of abuses in this market,” accusing the president of having “chosen chaos” and insisting he must take full responsibility for the consequences.
Sikorski echoed the alarm, saying the bill was designed to finally bring order to the crypto sector. “When the bubble bursts and thousands of Poles lose their savings, at least they’ll know who to thank,” he wrote on X.
Crypto supporters, including Polish economist Krzysztof Piech, swiftly countered the criticism, arguing that the president shouldn’t be blamed for law enforcement’s failure to go after scammers.
Piech also pointed out that the EU’s Markets in Crypto-Assets Regulation (MiCA) will introduce investor protections across all member states beginning July 1, 2026.
