Poland’s MiCA Veto Triggers Growing Regulatory Uncertainty for Crypto Firms in 2026

President of Poland, Karol Nawrocki, has used his veto power to dismiss a second draft law that aims to change the current national regulations on cryptoassets in line with the EU’s Markets in CryptoAssets Regulation (MiCA).

This rejection has resulted in local crypto trading platforms lacking an easy way to get licensed, with the deadline of July 1, 2026, fast approaching. The second veto, following a similar rejection in December, has ignited a fierce debate on the right balance between investor protection and innovation in the digital asset industry in Poland.

Regulatory Landscape

The version of Bill 2064 that was turned down was a copy of Bill 1424, and both were criticised for introducing “overregulation” that could destroy the market.

In his veto message, President Nawrocki expressed his belief that the act would give the Polish Financial Supervision Authority (KNF) too much power, including the power to halt trading and to give fines of up to 10 million zloty, which he considered disproportionate.

The KNF responded by saying that if there is no designated competent authority, then Polish cryptoasset service providers (VASPs) would lose their transitional status after July 2026 and would be forced either to shut down or to apply for a foreign license.

Also Read: Poland’s Crypto Regulation Hits Roadblock as Presidential Veto Stands

Impact

The lack of a domestic MiCA implementing framework results in a regulatory asymmetry. Foreign companies obtaining a MiCA license in their home jurisdiction, such as Coinbase, which got a Luxembourg license in 2025, can passport services into Poland, whereas Polish companies are not given a formal opportunity to get a local license.

Also Read: Poland’s Aggressive Crypto Crackdown Sparks Public Outcry

Future Outlook

Observers of the industry say that a revised, streamlined bill has a potential to regain trust but the clock is ticking; normally the licensing procedure lasts for a few months, which means that a timely approval is hardly possible before the expiry of the deadline.

Without a law, Poland risks isolating itself as the only EU member without a MiCA framework thus local VASPs will have no alternative but to move to more VASPs, friendly jurisdictions like Lithuania or Malta.

Also Read: Bitcoin Price Holds Support as Poland Launches First Bitcoin ETF