Poland Resubmits Unchanged Crypto Bill, Deepening Political and Regulatory Rift

Poland's government resubmitted a cryptocurrency bill on December 11, 2025, after it was previously vetoed by President Karol Nawrocki. The bill, which duplicates the original text word for word, seeks to place the Polish Financial Supervision Authority (KNF) in charge of regulating the country's crypto market. This move has intensified a political rift between the president and Prime Minister Donald Tusk, who argue the legislation is necessary for national security and alignment with EU standards according to reports.

The new version of the bill-formally known as Bill 2050-mirrors the previous Bill 1424 in every detail, despite criticism from industry figures and lawmakers who called it overly burdensome. Government officials, including Adam Szłapka, have acknowledged that not a single comma was altered in the resubmitted text, suggesting a deliberate attempt to bypass further opposition. President Nawrocki had previously rejected the legislation, citing concerns over civil freedoms and regulatory overreach.

The re-submission comes as the European Union's Markets in Crypto-Assets (MiCA) regulation nears its compliance deadline of July 2026. Poland's domestic implementation has lagged, creating uncertainty for crypto service providers and investors. The bill's re-introduction has raised questions about whether the country will meet the EU's regulatory timeline or face penalties and market fragmentation according to analysis.

Why the Standoff Happened

The political debate over the bill centers on divergent views of how to regulate the crypto sector. Supporters argue that placing the KNF in charge of oversight will bring clarity and investor protection, while critics like Tomasz Mentzen have labeled the bill "118 pages of overregulation." The president's veto was framed as a defense of civil liberties and market freedom, with Nawrocki warning that the bill's broad powers-such as website blocking and crypto account freezes-could undermine economic stability and individual rights.

Tusk, meanwhile, has linked the controversy to national security, claiming that the absence of a strong regulatory framework leaves Poland vulnerable to foreign influence, including from Russian criminal networks. This argument has drawn sharp criticism, with the president's office denying any credible intelligence linking the bill's rejection to external threats.

Risks to the Outlook

The resubmission of the bill has left the Polish crypto market in a state of regulatory limbo. Critics fear that the legislation-without significant revisions-could push local businesses to relocate to more crypto-friendly jurisdictions in the EU, such as Malta or Lithuania. This concern is amplified by the bill's controversial provisions, including high supervisory fees and administrative powers that lack judicial oversight.

Industry stakeholders have also raised concerns about the potential for fragmented enforcement, particularly if the bill is implemented alongside EU MiCA rules. Some analysts suggest that a centralized approach under the European Securities and Markets Authority (ESMA) might offer a more coherent path forward than the current local regulatory framework. However, Polish lawmakers remain committed to maintaining national control over crypto oversight, despite the risks of market isolation according to experts.

What Analysts Are Watching

Experts are closely monitoring whether the bill will be passed as written or if further negotiations will lead to a revised version. The government has suggested that President Nawrocki is now unlikely to veto the bill again, citing a recent security briefing that highlighted its national security implications. However, the lack of substantive changes in the resubmitted text has led to skepticism, with many expecting a political showdown in the coming weeks according to market analysis.

Market observers are also keeping a close eye on how the bill aligns with the EU's MiCA framework. While MiCA is set to take full effect in 2026, its implementation in Poland remains incomplete due to legislative delays. If the bill fails to meet EU compliance standards, Polish crypto service providers could face restrictions on cross-border operations and lose access to a broader European market.

Poland's approach to crypto regulation is being watched by neighboring countries and EU officials, with implications for the broader regional and global market. The outcome of this political dispute will likely shape whether Poland becomes a hub for crypto innovation or a cautionary tale about the risks of regulatory overreach according to analysts.