Archive · 5 Dec 2025
Poland Fails to Overturn Crypto Veto
Poland's government tried to pass a law to regulate cryptocurrencies but couldn't override the president's veto.
The government says the law is needed to stop money laundering and protect against foreign threats, especially from Russia.
The president and some political parties think the law is too strict and will make crypto businesses leave Poland.
The prime minister warned that not passing the law could help Russian interests, but the president's side says that's not a fair choice.
In the end, the law didn't pass because not enough lawmakers supported it.
Poland's government failed to overturn a presidential veto on a cryptocurrency regulation bill.
The bill aimed to implement the EU's MiCA regulation, giving Poland's financial regulator oversight over the cryptocurrency market.
Prime Minister Tusk warned that the bill's failure could aid Russian interests, framing it as a national security issue.
President Nawrocki and right-wing parties argue the bill is too restrictive and will drive away crypto firms.
The government needed a three-fifths majority to overturn the veto, which it did not achieve.
- Who
- Polish government, President Karol Nawrocki, Prime Minister Donald Tusk, right-wing parties, and liberal parties.
- What
- A failed attempt to overturn a presidential veto on a cryptocurrency regulation bill.
- When
- December 5, 2023.
- Where
- Warsaw, Poland.
- Why
- To increase oversight of the cryptocurrency market and prevent money laundering and foreign exploitation, but the veto was upheld due to opposition from the president and right-wing parties.
Government and Liberal Parties
President and Right-Wing Parties
Regulation Necessity
Government and Liberal Parties
The government argues that the bill is necessary to combat money laundering and protect against foreign exploitation, particularly from Russia.
President and Right-Wing Parties
The president and right-wing parties believe the regulations are excessive and will drive crypto firms away, citing simpler implementations in other EU countries.
National Security
Government and Liberal Parties
Prime Minister Tusk frames the vote as a choice between national security and foreign influence, specifically Russian money and services.
President and Right-Wing Parties
The president's office argues that the government's portrayal is a false choice and calls for collaborative legislation.
- Bill Purpose
- To implement the EU's MiCA regulation, giving Poland's financial regulator oversight over the cryptocurrency market.
- Veto Overturn Requirement
- A three-fifths majority with at least half of lawmakers voting.
- President's Stance
- President Nawrocki and right-wing parties argue the bill is too restrictive and will drive away crypto firms.
- Government's Concern
- The government warns of money laundering and exploitation by foreign entities, particularly Russian intelligence.
- Closed Session Topic
- Prime Minister Tusk discussed Russia's involvement in cryptocurrency scandals.
- Security Services Allegations
- Poland's security services claim Russia has used cryptocurrencies to fund sabotage.
- EU Context
- Other EU member states have implemented MiCA with simpler and less restrictive legislation.