Poland’s President Vetoes ‘Destructive’ Crypto Bill

Polish President Karol Noworki has refused to sign a bill imposing stricter regulations on the crypto-asset market, drawing praise from the crypto community and sharp criticism from the government.

According to a statement from the president’s press office on Monday, Nowrucki vetoed Poland’s crypto-asset market act, saying its provisions “genuinely threaten the independence of Poles, their property and the stability of the state.”

Introduced in June, the bill has drawn criticism from industry advocates such as Polish politician Tomas Mentzen, who had expected the president to refuse to sign it after clearing parliament’s approval.

While crypto supporters hailed the veto as a victory for the market, several government officials condemned the move, claiming that the president was an “electoral mess” and should bear full responsibility for the outcome.

Why did the president veto the bill?

One of the main reasons given for the veto was a provision that allowed authorities to easily block websites operating in the crypto market.

“The rules for blocking domains are vague and can lead to abuse,” the president’s office said in an official press release.

The President’s Office also cited the length of widespread criticism of the bill, stating that its complexity reduces transparency, especially when compared with simpler frameworks in the Czech Republic, Slovakia and Hungary.

“There is an easier way for companies to move to the Czech Republic, Lithuania or Malta, instead of creating conditions for operating and paying taxes in Poland,” the president said.

Norwaki also highlighted the excessive amount of regulatory fees, which can stifle startup activity and favor foreign corporations and banks.

“This is a reversal of logic, which kills a competitive market and poses a serious threat to innovation,” he said.

Critics pounce: “President chooses chaos”

Nowrucki’s veto has drawn a strong backlash from top Polish officials, including Finance Minister Andrzej Dumaski and Deputy Prime Minister and Minister of Foreign Affairs Raduso Sikorski.

Domasky warned X that “already 20% of clients are losing their money as a result of abuse in this market,” accusing the president of “elected chaos” and placing full responsibility for ending it.

Related: Spain’s Junior Ruling Party Proposes 47% Crypto Tax in ‘Attack Against Bitcoin’

Sikorsky echoed that concern, saying the bill was supposed to regulate the crypto market. “When the bubble bursts and thousands of Poles lose their savings, at least they’ll know who to thank,” Sikorsky argued on X.

Crypto supporters, including Polish economist Krzysztof Piech, quickly pushed back, saying the president could not be held responsible for authorities failing to pursue scammers.

He also noted that the European Union Markets in Crypto Assets Regulation (MICA) is set to provide investor protections in all EU member states starting July 1, 2026.