Poland’s President Vetoes Crypto Bill Over Startup Flight Risk, Fees Concerns
Poland's President Karol Nawrocki has knocked back the Crypto-Asset Market Act, a massive piece of legislation aimed at getting a handle...
Quick overview
- Poland's President Karol Nawrocki vetoed the Crypto-Asset Market Act, citing concerns over personal freedoms and economic stability.
- The crypto community views the veto as a victory against over-regulation that could hinder innovation and drive startups abroad.
- Critics of the bill highlighted its complexity and high compliance costs, which could deter new businesses and favor larger foreign corporations.
- The debate continues between the need for regulation to protect investors and the potential negative impact on the crypto market's growth.
Poland’s President Karol Nawrocki has knocked back the Crypto-Asset Market Act, a massive piece of legislation aimed at getting a handle on the nation’s cryptocurrency sector. In a statement released yesterday, the president said the law “is a genuine threat to the freedoms of Poles, their property and the stability of the state”, hinting at serious concerns about what the law could do to the economy and people’s rights.
The bill came up for a parliamentary vote back in June and had strong government support to curb what some see as dodgy trading practices. But the crypto community is celebrating the president’s decision as a major win, saying the veto is a safeguard against the sort of over-regulation that could stifle innovation and drive startups abroad.
Polish politician Tomasz Mentzen welcomed the move, saying it was pretty much the only thing the president could do to prevent the market from being strangled.
Just in! ⭕️ Polish President Karol Nawrocki vetoed a devastating bill on cryptoassets that would have excluded Poland from the development race for blockchain technology.
The bill proposed by the government primarily targeted small entrepreneurs, meaning the most innovative… pic.twitter.com/noPBVSMYs8
— Crypto Zibber (@cryptozibber) December 2, 2025
Overregulation and Startup Risks
The president identified several key problems that led him to veto it. And topping the list was a bit of the bill that gives the authorities a pretty free hand to shut down websites in the crypto space – the president’s office reckons this is just too opaque, too easy to abuse. It would inevitably cause problems for genuine players.
A bunch of other criticisms focused on the bill’s sheer complexity and the high costs of compliance:
- That this vast stack of regulations makes it harder for people to see what’s going on compared to our neighbours
- The compliance and oversight fees are just too high and probably put a lot of startups off
- Risk of companies ending up in the Czech Republic, Lithuania or Malta, where they might get a more welcoming reception
- And a preference for bigger foreign corporations and banks over smaller ones
“Nawrocki said the bill’s whole logic is wrong – it undermines competitive markets and chokes off innovation.” His office also pointed out that the Czech Republic, Slovakia, and Hungary have simpler regulatory frameworks that strike a better balance between growth and oversight.
The Clash Escalates
The veto has really got the senior Polish officials fired up. Finance Minister Andrzej Domański reckons the president has “chucked the baby out with the bathwater” and warns that market abuses could ruin up to 20% of investors. And Deputy Prime Minister Radosław Sikorski echoed that, saying the law was designed to protect ordinary people from being burned in the wild crypto market.
But the crypto crowd says that investor protection is better handled by going after the scammers rather than piling on all these regulations. Economist Krzysztof Piech also noted that the EU’s Markets in Crypto-Assets Regulation (MiCA) will take effect in 2026 and provide cross-border protection for Polish investors.
It’s a tussle between regulating this fast-moving crypto sector and keeping an eye on the economy and consumer rights.
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