Poland’s President Vetoes Second MiCA‑Implementation Bill, Prompting Local Firms to Look Abroad for Licenses
Warsaw, 17 Feb 2026 – President Karol Nawrocki rejected Bill 2064 on Thursday, marking the second time this year that the Polish head of state has blocked legislation intended to bring the country’s crypto framework into line with the European Union’s Markets in Crypto‑Assets Regulation (MiCA). The move deepens regulatory uncertainty for domestic crypto platforms as the EU‑wide transition deadline of 1 July 2026 draws nearer.
Background
MiCA, which will become fully operative across the EU next summer, requires each member state to designate a competent authority to supervise crypto‑asset service providers and to enact national laws that translate the EU text into domestic rules. In Poland, the Financial Supervision Authority (KNF) has publicly noted that no such authority has yet been appointed, a shortfall that has raised concerns among industry participants.
Bill 2064, which the Sejm passed earlier this year, was described by the president as “practically identical” to Bill 1424 – the legislation he vetoed in December. Critics from the crypto community, including parliamentarian Tomasz Mentzen, argue that the proposals impose excessive regulation that could hinder the sector’s growth.
Industry Reaction
Local exchanges are already adapting to the prospect of a delayed or absent MiCA‑implementation law.
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Kanga Exchange co‑CEO Sławek Zawadzki told Cointelegraph that the firm had anticipated possible delays and prepared contingency plans, including seeking licensing regimes in other jurisdictions. “From the outset we assumed the Polish MiCA law might not be in force on time, so we explored alternative solutions,” he said.
- Zonda Crypto CEO Przemysław Kral, whose platform was originally founded in Poland but is now registered in Estonia, warned that the regulatory vacuum could push smaller Polish operators out of the market. “We have been operating outside Poland for years and will continue to passport a MiCA licence obtained elsewhere,” Kral explained. “While we expect to stay competitive, many local startups may lose their chance to serve Polish users.”
The divergence between foreign and domestic firms is becoming more pronounced. U.S.‑based exchange Coinbase recently expanded its Polish operations after securing a MiCA licence in Luxembourg in 2025, allowing it to provide services in Poland despite the lack of a domestic licensing pathway. Similar moves by Binance, which applied for a MiCA licence in Greece, underline the growing trend of firms turning to other EU jurisdictions to meet the upcoming compliance deadline.
Political and Legislative Outlook
President Nawrocki justified his veto by emphasizing the need to avoid “wrong law[s]” that could stifle innovation. “Poland should attract innovation, not push it away,” he stated. His stance signals a more industry‑friendly approach, though it also leaves the country without the legal backbone required by MiCA.
In the aftermath of the veto, economist Krzysztof Piech announced on social media that he is drafting a new, more crypto‑friendly bill to implement MiCA in Poland. While details of the proposal remain confidential, Piech indicated that a draft is nearing completion. Cointelegraph’s attempts to obtain comment from him have so far been unsuccessful.
Analysis
The president’s repeated rejection of MiCA‑implementation bills highlights a broader tension within Poland’s political system: the desire to foster a supportive environment for fintech innovation versus the pressure to align tightly with EU regulatory standards. Without a designated supervisory authority, Polish crypto firms risk falling behind competitors that can operate under licences issued elsewhere in the EU.
The situation creates a “regulatory asymmetry” where foreign exchanges, already equipped with MiCA licences, can legally serve Polish consumers, while domestic platforms lack a clear route to compliance. This could accelerate the migration of Polish crypto businesses to neighboring jurisdictions, potentially eroding the country’s nascent crypto ecosystem.
However, the upcoming draft from Piech may offer a compromise that balances consumer protection with market flexibility. If enacted before the July 2026 deadline, it could restore a level playing field and mitigate the exodus of local firms.
Key Takeaways
- Second Veto: President Karol Nawrocki rejected Bill 2064, a near‑duplicate of the December‑vetoed Bill 1424, leaving Poland without a MiCA‑implementing law.
- Regulatory Gap: The Polish Financial Supervision Authority has not yet appointed a competent authority to oversee crypto assets, jeopardizing compliance with the EU deadline of 1 July 2026.
- Industry Response: Domestic exchanges such as Kanga and Zonda are preparing to obtain licences in other EU states, while foreign operators like Coinbase already hold MiCA licences and can operate in Poland.
- Potential Legislative Shift: Economist Krzysztof Piech is drafting a new, more crypto‑friendly MiCA implementation bill; its prospects remain uncertain.
- Market Impact: The regulatory imbalance may push smaller Polish crypto firms out of the market and encourage relocation to jurisdictions with established MiCA‑licensing frameworks.
As the EU deadline approaches, the Polish crypto sector faces a pivotal moment. The next steps taken by policymakers will determine whether Poland can retain its domestic players or become a peripheral market serviced primarily by foreign‑licensed exchanges.
Source: https://cointelegraph.com/news/poland-crypto-bill-second-veto-firms-seek-mica-abroad?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
