Poland's New President Vows to Abolish 19% Bitcoin Tax

Bitcoin's latest price was $, in the last 24 hours. The recent election in Poland has brought significant attention to the cryptocurrency, as the newly elected president, Karol Nawrocki, ran on a pro-Bitcoin platform. This victory is seen as a major win for Bitcoin and crypto investors, as Nawrocki's stance on innovation over regulation aligns with the interests of the country's estimated eight million crypto users.

During his campaign, Nawrocki emphasized the importance of abolishing the 19 percent 'Belka' capital-gains tax, which captures both equities and digital assets. This move would leave Poland with one of the lowest realized-gain burdens on Bitcoin in the European Economic Area. He also positioned himself as a negative regulator, vowing to veto any restrictions on Bitcoin and ensuring that ordinary Poles would not be criminalized for holding or spending the cryptocurrency.

Another notable figure in the election was Slawomir Mentzen, a libertarian whose campaign focused on creating a Strategic Bitcoin Reserve. Although he did not reach the second round, his proposal influenced the entire race. Nawrocki chose to co-opt Mentzen's ideas, arguing that tax relief and legal certainty must come first. This strategy helped consolidate the libertarian vote behind Nawrocki and may have contributed to his victory.

Polish household adoption of digital assets has been accelerating since 2022, with Statista forecasting 7.9 million domestic crypto users by the end of 2025. This demographic skews under-40 and urban, a cohort that traditionally leans liberal. Nawrocki's pro-Bitcoin stance was a strategic move to attract these voters without alienating his conservative base. Exit polling shows a 12-point swing toward Nawrocki among first-time voters compared with the 2020 presidential contest, which helped offset his opponent's dominance in the capital.

Nawrocki will be sworn in on 6 August. While tax statutes originate in parliament, he has the unilateral power to veto any attempt by the governing coalition to transpose the most restrictive parts of the EU’s Markets in Crypto-Assets regulation into domestic law. This veto power is a significant tool for protecting the interests of crypto investors in Poland.

In Russia, Sberbank, the country's largest lender, has introduced a new structured bond product offering exposure to Bitcoin. This product, currently available on the over-the-counter market to a limited pool of qualified investors, allows returns based on the performance of Bitcoin’s US dollar value, as well as the potential appreciation of the dollar against the Russian ruble. The bonds eliminate the need for investors to open cryptocurrency wallets or use offshore exchanges, as all transactions are settled in rubles and within Russian legal and technological frameworks.

Sberbank plans to expand the accessibility, transparency, and liquidity of these Bitcoin-linked structured bonds by listing future issuances on the Moscow Exchange. Additionally, the bank plans to offer exchange-traded products with cryptocurrency exposure, including Bitcoin futures, which will become available via SberInvest on June 4 following the launch of BTC futures trading on the Moscow Exchange. This move highlights Sberbank’s growing role in modernizing Russia’s financial infrastructure and signals a cautious but tangible integration of crypto-assets within a government-regulated environment.

While crypto remains a contentious topic in Russian policymaking, structured products like these may provide a compliant pathway for investor participation in the digital asset economy. This development in Russia, coupled with the pro-Bitcoin stance of Poland's new president, indicates a growing acceptance and integration of cryptocurrencies in the global financial landscape. The strategic moves by both countries to embrace digital assets reflect a broader trend towards innovation and regulatory clarity in the crypto space.