Poland has become the only member state in the European Union lacking an enacted national framework for the Markets in Crypto-Assets (MiCA) regulation. This situation arose after the Polish parliament was unable to achieve the necessary three-fifths majority to override President Karol Nawrocki”s veto on the crypto legislation on December 5, 2025. The unsuccessful vote effectively nullified the legislative initiative, compelling the government to restart the process from scratch.
The political landscape in Poland is sharply divided, with Prime Minister Donald Tusk”s pro-EU coalition advocating for the crypto bill, which they argued was crucial for national security. The government underscored the need for regulatory measures to mitigate potential misuse of the crypto market by foreign entities and criminal organizations. Conversely, President Nawrocki contended that the proposed bill exceeded the intended scope of MiCA, posed threats to civil liberties and property rights, and could drive crypto businesses out of Poland due to excessive regulation.
This regulatory impasse has created a significant gap for the Polish crypto sector, which now faces a prolonged period of uncertainty. Although the EU”s MiCA regulation became effective across member states on December 30, 2024, each country must implement its own legislation to designate the relevant supervisory authority and outline licensing procedures for Crypto-Asset Service Providers (CASPs). Poland”s failure to pass its national legislation means there is currently no official body, such as the Polish Financial Supervision Authority (KNF), available to process CASP license applications.
Consequently, both domestic and international crypto firms are left without a clear compliance pathway, even as the overarching EU rules remain in effect. Despite this regulatory vacuum, existing Virtual Asset Service Providers in Poland can continue to operate under their current licenses until July 1, 2026, or until a license is formally issued or denied. This timeline provides a temporary reprieve compared to the stricter deadlines outlined in the rejected Polish draft law, offering some stability amidst the regulatory uncertainty.
With the veto upheld, the Polish government must now embark on drafting a completely new bill, a process that is expected to extend into late 2025 or early 2026. This delay will further obscure the regulatory landscape for market participants and move Poland further away from the uniform regulatory environment the EU sought to establish with MiCA. Until a new legislative framework is enacted, Poland will remain an outlier within the EU, navigating MiCA without the necessary national mechanisms to enforce it.
The ongoing uncertainty is raising alarms among crypto service providers, investors, and companies that depend on regulatory consistency across Europe, leaving Poland”s position within the EU”s digital asset framework unresolved for the foreseeable future.
