Polish President Karol Nawrocki has vetoed the Crypto-Asset Market Act, a bill introducing strict new regulations on digital assets, citing concerns over civil liberties and economic innovation.
President’s rationale for the veto
In a statement released by the president’s office, Nawrocki argued that the bill’s provisions “genuinely threaten the freedoms of Poles, their property, and the stability of the state.”
One of the main objections was a proposal allowing authorities to block websites operating in the digital asset sector. The president’s office stated:
“Domain blocking laws are opaque and can lead to abuse.”
The office further criticized the bill’s complexity, warning that overregulation could drive companies abroad and undermine Poland’s competitiveness compared to neighboring countries like the Czech Republic, Slovakia, and Hungary.
Nawrocki also raised concerns about high supervisory fees that could stifle local startups and favor large foreign banks, calling the measure “a reversal of logic, killing off a competitive market and a serious threat to innovation.”
Political backlash from government officials
The veto sparked strong criticism from top officials, including Finance Minister Andrzej Domański, who warned:
“Already now 20% of clients are losing their money as a result of abuses in this market.”
Deputy Prime Minister Radosław Sikorski echoed concerns that the lack of regulation could lead to losses for ordinary Poles, stating that when the bubble bursts, “at least they will know who to thank.”
Response from digital asset advocates
Industry supporters, such as economist Krzysztof Piech, countered that responsibility for scams lies with law enforcement, not the president.
They also pointed out that the European Union’s Markets in Crypto-Assets Regulation (MiCA) will apply in Poland and all member states starting July 1, 2026, providing a unified regulatory approach.
Broader European context
As Poland debates national digital asset policy, other European countries are also grappling with regulation.
The upcoming MiCA framework aims to provide consistency across the EU, potentially reducing the risk of regulatory arbitrage and ensuring investor protections continent-wide.
