Poland Fails to Override Presidential Veto on Crypto Bill as Zondacrypto Scandal Deepens

Poland's Sejm fell short of the votes needed to override President Karol Nawrocki's veto of legislation designed to bring the country into compliance with the European Union's Markets in Crypto-Assets Regulation (MiCA). On Friday, lawmakers voted 241-198 in favor of overturning the veto, with three abstentions, missing the 266-vote supermajority threshold by 25 votes. The Polish Financial Supervision Authority (KNF) confirmed that Poland still lacks a designated national authority to supervise its cryptoasset market, even as MiCA rules already apply across the EU. Nawrocki has signaled support for crypto regulation but argues the proposed framework overregulates the industry and grants authorities overly broad powers, including the ability to block websites.

The legislative stalemate coincides with a widening scandal surrounding defunct exchange Zondacrypto. The platform's Estonian operator has been declared bankrupt, and Prime Minister Donald Tusk is citing an expanding criminal investigation to rally support for tighter oversight. Ahead of Friday's vote, Tusk disclosed excerpts of witness testimony alleging a 2 million Polish zloty (approximately $550,000) payment arrangement tied to a foundation connected to former Justice Minister Zbigniew Ziobro. Separate testimony cited by Tusk claimed an unnamed individual promised to arrange a presidential pardon in the event of a conviction.

Polish prosecutors are now investigating suspected fraud and money laundering connected to Zondacrypto, estimating losses at no less than several hundred million zloty. In July, authorities merged the Zondacrypto case with a probe into the 2022 disappearance of Sylwester Suszek, founder of BitBay, the predecessor exchange later rebranded as Zondacrypto. The Polish Olympic Committee chief has also been charged in connection with the investigation, according to the justice minister. With the veto sustained, Poland's crypto market remains in regulatory limbo even as enforcement actions against major domestic platforms accelerate.