Cryptocurrency industry appeals to President Karol Nawrocki for veto

Representatives of the Polish crypto-asset sector have appealed to the President of the Republic of Poland, Karol Nawrocki, to veto the crypto-asset market act, adopted by the Sejm on September 26. According to the industry, the current wording of the act threatens to hinder the development of domestic companies, drive Polish capital out of the market, and hand over a competitive advantage to foreign – including non-EU – entities.

The act formally implementing the EU MiCA regulation significantly exceeds its scope. Poland has prepared the most extensive implementation in the entire European Union, with over 100 pages of regulations, sanctions, and administrative obligations. Experts warn that this is an example of so-called goldplating, or excessive implementation of EU regulations in a disproportionate manner that disadvantages domestic companies.

- This is not a dispute about cryptocurrencies, but about the competitiveness of the Polish economy. - underlines Sławek Zawadzki, Co-CEO of Kanga Exchange. - In its current form, the law means that Polish companies financed with domestic capital and paying taxes in Poland will be unable to meet the new requirements. They will be replaced by foreign entities that will register in other EU countries and merely "skim the cream" in Poland. This poses a real risk of losing thousands of jobs, innovation, and tax revenues.

Data published by Forbes Polska (September 2025) shows that Poland is one of the fastest-growing crypto markets in Central Europe. Already, 30,9% of Poles invest in cryptocurrencies, more than in stocks (21,5%) or bonds (19%). As many as 71% of respondents make transactions several times a month, proving that the crypto market is not a niche market—it's a real sector of the digital economy.

Poland had real potential to become a regional leader in blockchain technology. Just a few years ago, the country hosted some of the first cryptocurrency exchanges and projects in Central and Eastern Europe. However, as Zawadzki points out, this leadership was lost due to the overly restrictive policies of the Polish Financial Supervision Authority (KNF), including the blocking of bank accounts and delays in issuing permits.

- The current draft law perpetuates the mistakes of the past. It hands the market over to foreign players and denies domestic companies the opportunity to compete. If we want Poland to have its own technological capital, we must create laws that provide equal opportunities and encourage investment, rather than penalizing entrepreneurs for operating in Poland. – adds Sławek Zawadzki.

The industry unanimously emphasizes that it does not oppose the regulations – on the contrary, it supports the implementation of MiCA in the spirit of equal rules applicable throughout the European Union. However, the Act in its current form:

• does not protect investors, but blocks the development of enterprises
• does not support innovation, but creates barriers
• it does not strengthen Polish competitiveness, but hands over the market to foreign entities
• does not increase user safety, but relegates some activities to the grey zone.

That is why representatives of the sector – including Kanga, Next Block Expo, the Blockchain and New Technologies Chamber of Commerce, and other industry leaders – signed a joint call for a presidential veto and a re-drafting of the bill.

The appeal can be signed at: https://lnkd.in/d7VT5M79

- This is a moment when we must speak with one voice. I believe that President Nawrocki will recognize that this decision affects not only the cryptocurrency market, but the future of the Polish digital economy. – summarizes Sławek Zawadzki.