Poland Passes Crypto Bill As Fraud Probe Deepens Political Divide

"Polish lawmakers have approved a long-debated cryptocurrency bill, moving to align the country with the European Union's Markets in Crypto-Assets regulation as a fraud probe tied to a major exchange fuels political tension in Warsaw."

"The legislation, passed on Friday, sets a framework for licensing, supervision, and consumer protection across the crypto sector, according to Reuters reporting. Poland faces a July deadline to implement MiCA or risk forcing domestic firms to halt crypto-asset services, according to the national financial watchdog."

"Prime Minister Donald Tusk has linked the platform to alleged foreign influence, citing security service findings that point to Russian capital behind the exchange. He has described the company's origins as opaque and raised concerns about its past sponsorship of events involving figures from the nationalist opposition. Moscow has denied any role in sabotage or covert activity across Europe."

"President Karol Nawrocki, backed by the opposition, has vetoed earlier versions of the bill, arguing that strict rules and high penalties could push companies out of the country. He has proposed an alternative framework with lower fines and stronger court oversight of enforcement actions."

Polish lawmakers passed a cryptocurrency bill that creates licensing, supervision, and consumer protection rules for the crypto sector. The measure is intended to align Poland with the EU Markets in Crypto-Assets regulation, with a July deadline set by the national financial watchdog. Prosecutors are investigating the collapse of Zondacrypto, once the country’s largest exchange, leaving thousands of users unable to access funds and producing estimated losses exceeding 350 million zlotys. Prime Minister Donald Tusk linked the exchange to alleged foreign influence, citing security service findings pointing to Russian capital, while Moscow denied involvement. The founder has been missing since 2022, and the successor reportedly lives in Israel, potentially complicating extradition. Political divisions persist over enforcement strictness and penalties, including a presidential veto and proposed alternative rules.

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