Presidential Veto Blocks Crypto Regulation
Polish President Karol Nawrocki vetoed the Crypto-Asset Market Act on December 5, 2025, a move that halts Prime Minister Donald Tusk's regulatory plans for the digital assets sector. This decision stems from concerns over what President Nawrocki perceives as excessive regulatory powers within the bill, which he believes threaten individual and economic freedoms. Consequently, the implementation of MiCA in Poland is blocked, leaving the country's cryptocurrency market in an unregulated state.
The veto highlights a significant tension between the drive for technological innovation and the need for regulatory control. This situation leaves Poland's crypto market in a state of uncertainty, with potential ripple effects on broader regional economic policies.
Key Figures and Concerns
The decision involves prominent political figures, including Prime Minister Donald Tusk and President Nawrocki. President Nawrocki's veto specifically targets what he describes as overreaching legislation. In contrast, Prime Minister Tusk has emphasized the necessity of regulation, citing concerns about foreign actors infiltrating the crypto market. During a debate in the Sejm on December 5, 2025, Donald Tusk stated, "This market is infiltrated by Russian, Belarusian and other post-Soviet entities – hundreds of companies."
Presidential veto of the Crypto-Asset Market Act. Concerns raised about regulatory overreach and potential threats to economic freedoms. More details to follow.
— Polish President's Office (parody) (@prezydentpl_fake) December 5, 2025
Zbigniew Bogucki commented on the bill, noting, "The draft law grants excessive powers to the Financial Supervision Authority and could threaten economic freedom by allowing authorities to block accounts or domains too easily."
Immediate Impacts and Future Outlook
The immediate consequence of the veto is that Poland's cryptocurrency market will remain unregulated. This situation raises significant security risks. While market stability and economic freedoms are maintained in the absence of new licensing or directives from the Polish Financial Supervision Authority, the decision carries political implications. The government must now decide whether to revise the bill to address the President's concerns.
Poland now faces the challenge of drafting legislation that satisfies the President's objections without compromising national security. This veto underscores the ongoing debate surrounding the appropriate regulatory balance within the rapidly evolving crypto industry. Stakeholders can anticipate further regulatory discussions and market analysis. Ultimately, Poland will likely need to find a middle ground that balances security imperatives with the promotion of technological innovation within the crypto sector.