Poland president files rival crypto bill before MiCA deadline

Poland President Karol Nawrocki filed an alternative crypto bill in the Sejm on Wednesday to rival Prime Minister Donald Tusk’s government draft as the EU Markets in Crypto-Assets (MiCA) transposition deadline approaches on July 1, 2026.

The presidential proposal was presented by Zbigniew Bogucki, chief of the presidential chancellery, and is based on three pillars: protecting consumers and investors, introducing state oversight, and securing the rights of crypto entrepreneurs. The president’s office stated the draft aims to provide regulation for market participants waiting for national rules.

Nawrocki has returned the government-sponsored Crypto-Asset Market Act to parliament twice, arguing the earlier draft would burden small firms and give regulators excessive powers. Attempts by the ruling majority to overturn his vetoes were blocked by conservative and nationalist parliamentary allies, leaving two competing bills under consideration.

The legislative dispute intensified after the collapse of the exchange Zondacrypto in early April, which left thousands of customers unable to access funds. Authorities estimate as many as 30,000 Poles could be affected. The Tusk administration has blamed opposition politicians and the president for delaying new rules and has alleged the company funded conservative events and lobbied against the government draft.

Prime Minister Donald Tusk said he will resubmit his original bill to parliament this week with one change: tougher penalties for platforms and individuals who defraud crypto investors. He stated, “The only change I will propose in this project is to make the penalties even more severe for those who, taking advantage of people’s dreams, sometimes their naivety, sometimes their lack of knowledge, deceive them and also put the Polish state and our security at risk.” The government also plans to strengthen the role of the Financial Supervision Authority (KNF), allowing it to warn investors before law enforcement intervenes.

Members of Poland’s crypto industry criticized earlier government drafts for granting broad discretion to the KNF and for imposing high compliance costs on smaller operators. Those concerns were cited by Nawrocki when he vetoed the bill, stating regulation should not unduly hinder entrepreneurship in the sector.

Under MiCA, EU member states must ensure crypto service providers are licensed to continue operating legally, and Poland must complete transposition by July 1, 2026. Observers say Nawrocki is likely to veto the government bill again and that his own draft may not secure enough votes in the Sejm. Both bills moving through parliament leave the market in a period of legal uncertainty as lawmakers work to align national law with EU requirements.