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FollowingPolish Parliament fails to overturn President's third veto of Crypto Asset Market Law
On Friday, September 5, the Polish House of Representatives (Sejm) failed to overturn the President's third veto of the Crypto Asset Market Law with sufficient votes. Despite Prime Minister Donald Tusk's push under the pressure of the Zondacrypto scandal, the House of Representatives received only 241 votes, falling short of the constitutional threshold of 266 votes. The exchange is accused of embezzling $94 million in customer funds.
Summary of core points
The voting results were not up to standard: The House received 241 votes, which was below the constitutionally required 266 votes.
Regulatory vacuum prevents licenses from being issued: Due to the lack of domestic supporting laws, Poland has become the only EU member state that is unable to issue MiCA (Cryptographic Asset Market Regulation) licenses.
The Zondacrypto case dominated the debate but did not change the outcome: The investigation and controversy surrounding Zondacrypto dominated the debate but failed to reverse the vote.
Again misses the constitutional threshold
The September 5 vote is the third attempt by the House to overturn the president's veto over the Crypto Asset Market Act. Previously, President Carol Nawotsky refused to sign the bill three times in December 2025, February 2026 and June 2026. Each time he invoked the reason that the law would pose a risk to the economic freedom of Poles.
Last week, Donald Tusk pressed for the issue to be urgently placed on the House agenda. However, debate time was limited, and the final vote was 241 votes in favor, 25 votes short of the three-fifths absolute majority required by the Constitution (or 266 votes).
Why does this law attract so much attention?
If the law is not passed, the Polish Financial Supervisory Authority (KNF) will lack the legal basis to issue licenses to crypto asset service providers (CASPs) at the national level.
Domestic license dilemma
Although the MiCA regulations are directly applicable within the EU, each member state must designate a competent authority to process relevant applications. Article 143, paragraph 3, of the Regulations stipulates that entities registered in various countries must comply with relevant regulations, and the deadline is July 1, 2026.
The deadline has expired. In its statement on the lack of a competent authority, the Polish Financial Supervisory Authority confirmed that Polish companies could no longer provide such services without authorization. However, this does not prevent platforms holding licenses from other EU member states from using the "European Passport" mechanism to provide services to Polish customers.
As a result, operators in Warsaw currently have only two options: seek approval in other member states, or stop regulated services. Experience in the transition to the post-MiCA era shows that few companies are willing to wait.
Zondacrypto case changes the nature of debate
During the vote, prosecutors estimated that clients lost money at least $94 million. Przemesław Krull, the platform's leader, left Poland in April this year; according to media reports, he has traveled to Israel, where he holds nationality, making extradition difficult. The Tallinn court declared BB Trade Estonia, which operates the platform, bankrupt on August 27.
According to Polish Radio, Donald Tusk put these facts on the table before the vote and directly targeted the presidential camp, accusing it of paving the way for Zondacrypto at the highest level of the country.
"Zondacrypto has long penetrated the Polish state apparatus without obstruction," Tusk said in a statement in the House of Representatives. According to the minutes of the meeting, he also cited testimony heard by investigators, but the testimony has no legal effect.
In short, the next stage of the game will still depend on the constitutional threshold of 266 votes. At the same time, compliance applications have left Poland one after another, and Polish local texts that meet MiCA standards are still dead letters.
