Polish Lawmakers Pass Revised Crypto Bill to Implement EU MiCA Framework

Polish lawmakers have approved a revised cryptocurrency bill designed to implement the European Union’s Markets in Crypto-Assets (MiCA) framework. The legislation, backed by the Ministry of Finance, passed the Sejm with a 241–200 vote during its 57th sitting in Warsaw. This marks the third attempt to pass such regulations, following two previous vetoes by President Karol Nawrocki. The approved bill designates the Polish Financial Supervision Authority (KNF) with significant powers, including the ability to oversee market participants, impose administrative sanctions, and temporarily block accounts or transactions. The legislative process was complicated by four competing draft bills, including one from the opposition Law and Justice party proposing a total crypto ban. Despite the parliamentary approval, market participants remain skeptical, anticipating another presidential veto due to unresolved concerns over supervisory powers and insufficient judicial safeguards. The debate has been further intensified by the ongoing Zondacrypto scandal, involving alleged fraud and links to Russian capital, which Prime Minister Donald Tusk cited as evidence for the urgent need for a robust investor protection framework ahead of July implementation deadlines.