Poland's crypto licensing gap widens further after veto vote

Core Points

Lawmakers failed to override the president's veto. The motion was not adopted by 25 votes. Poland lacks a formally designated MiCA regulator. The domestic CASP (Cryptographic Asset Service Provider) application cannot be completed. Providers authorized by the European Union can still enter the Polish market.

The House of Representatives failed to reach the required majority

Polish lawmakers failed to reinstate the country's Crypto-Asset Market Act, leaving Poland without a domestic regulatory body capable of licensing most crypto service providers under the European Union's Crypto-Asset Markets Regulation (MiCA). According to official House voting records, on September 4, 241 members supported overturning President Karol Nawrocki's veto, 198 opposed and 3 abstained. Re-passage of the bill requires a three-fifths majority, or 266 votes, so the motion is 25 votes short of passage.

The defeated bill aims to designate the Polish authority in charge of MiCA matters and establish procedures for licensing and supervising crypto asset businesses. Since MiCA is already directly applicable within the EU, the vote affects Poland's regulatory mechanisms rather than EU regulations themselves.

Failed vote stalled domestic licensing

The Polish Financial Supervisory Authority (KNF) explained this practical consequence in an official statement issued on September 4. KNF noted that Poland has not formally appointed public bodies to perform most of the state functions required by MiCA. This gap covers crypto service providers and most token issuers, although KNF still retains limited jurisdiction over issuers of e-currency tokens under existing financial sector rules.

Therefore, Poland is unable to initiate and complete its domestic authorization application as a crypto asset service provider (CASP). This process can only start after national law formally designates the responsible regulatory agency.

The maximum transition period stipulated by MiCA has ended on July 1, 2026, which eliminates a temporary basis for eligible Polish businesses to continue operating through the country's earlier virtual currency registration system. For the broader implications of this deadline, including which exchanges were authorized before it expired, see this review of the European MiCA licensing deadline. KNF emphasized that neither national legislation nor regulatory decisions can extend this deadline.

Foreign providers still have a path into Poland

The absence of domestic regulators does not mean that all crypto companies cannot serve Polish customers. MiCA authorizations issued in a member state can be used across the EU through the regulation's cross-border notification process.

KNF confirmed that providers authorized in other member states can continue to operate Polish operations after notifying their own regulatory authorities. They do not need to have a physical presence in Poland, nor do they need to obtain approval from Polish authorities before using this "passport" route.

Two ways to enter the Polish crypto market

Polish applicants

Domestic licenses are not available: Polish CASP applications cannot be completed until the competent authority is formally appointed under national law.

EU-authorized providers

Cross-border access available: Providers licensed in other member states can serve Polish customers through MiCA's passerization process.

This difference puts Polish applicants at a structural disadvantage in the domestic market. They lack equivalent national application routes, and competitors with authorizations from other parts of the EU can legally reach the same customer base.

Poland lags behind several European peers

The ESMA (European Securities and Markets Authority) register updated in February 2026 shows that markets such as Germany, Ireland, Lithuania and the Netherlands have officially designated MiCA regulators. France assigned responsibilities to AMF and ACPR. Poland appears in the register and KNF is listed as the proposed authority, but the asterisk indicates that the designation has not yet been formally completed. The KNF's September statement confirmed that the situation remains unresolved.

The ESMA document flags several other European jurisdictions with similar qualification restrictions, so Poland is not the only incomplete case in continental Europe. However, more than a year after MiCA became fully applicable, its domestic authorization path remains unavailable, while several neighboring and competitive markets are already ready to process applications through its designated regulatory agencies.

The focus of controversy is Poland's implementation of MiCA.

Nawartz returned the bill to Parliament through an official veto notice on June 11, which was previously passed on May 15. In a separate statement explaining his decision, the president said he supports crypto regulation and consumer protection, but opposes the government's proposed framework. His office said the legislation adopted only one of the 16 areas the president sought to amend and was too similar to two previous proposals.

Navotsky said he would sign the revised law. As a result, differences concern what powers and national regulations Poland should establish around MiCA, rather than whether EU regulations apply.

Parliament must introduce new bills

Failure of the veto prevented the bill from taking effect on May 15. Filling the regulatory gap requires another proposal that can pass through Congress and gain the president's signature. Prior to that, KNF was unable to complete the domestic CASP authorization process. Even if other companies approved by EU regulators continue to use MiCA to enter the Polish market, Polish crypto providers will still lose their own licensing path.