365Crypto
President Rejects MiCA Bill Again
Poland’s president has vetoed the country’s MiCA bill for the second time. The move leaves local crypto firms stuck in legal fog before a key EU deadline.
President Karol Nawrocki refused to sign Bill 2064 last week. He said the proposal was almost the same as an earlier version he already rejected. That earlier bill also aimed to align Poland with the European Union’s Markets in Crypto-Assets framework, known as MiCA.¹
The timing matters. Poland must prepare for the EU-wide MiCA transition before July 1, 2026. Yet the country still has not named a national authority to supervise crypto markets.²
Industry Pushback and Political Divide
The veto highlights a split inside Poland’s leadership. Some lawmakers support stricter oversight. Others argue that heavy rules could choke innovation before it grows legs.
Critics of the bill called it overregulation. They warned it could push startups abroad instead of building a local tech hub. Nawrocki echoed that view. He said Poland should attract innovation, not scare it away with rigid laws.
Foreign Exchanges Gain an Edge
While the debate continues, foreign exchanges are moving fast. Companies licensed in other EU states can operate across borders under MiCA passporting rules.³
That creates an uneven field. A platform licensed in Luxembourg or Estonia can serve Polish users. Meanwhile, Polish firms have no clear local path to apply for a license at home.
Executives from exchanges with Polish roots say they prepared backup plans. Many already secured licenses abroad. Smaller firms may not have that luxury.
What Comes Next?
Without a local MiCA law, uncertainty remains. Some leaders are drafting a new, more crypto-friendly proposal.
For now, Poland’s crypto sector watches and waits. And maybe checks real estate prices in Luxembourg.
¹ MiCA: The EU’s Markets in Crypto-Assets Regulation, a framework that sets rules for crypto companies across the European Union.
² Supervisory authority: A government body responsible for regulating and monitoring financial markets.
³ Passporting: An EU rule allowing licensed firms in one member state to operate across the bloc.
