Poland's lower house voted Friday to approve a crypto regulation bill designed to bring the country in line with the European Union's Markets in Crypto-Assets (MiCA) framework. But the legislation now faces a potential presidential veto and ongoing regulatory disputes that could delay or derail implementation.
What the bill does
The bill transposes key elements of MiCA into Polish law, covering crypto-asset service providers, stablecoins, and investor safeguards. It aims to create a single licensing regime so firms operating in Poland can passport services across the EU. The vote in the Sejm, the lower house, passed with a comfortable majority after months of debate.
The veto question
President Andrzej Duda has yet to take a public position on the final text, but his office has previously raised concerns about the scope of regulatory oversight and the speed of implementation. If Duda vetoes the bill, the Sejm would need a three-fifths supermajority to override him — a threshold the ruling coalition does not currently command. The bill has also stirred disagreement among regulators over which body will supervise certain provisions, adding another layer of uncertainty.
Next stop: the Senate and the president
The bill now moves to the Senate, the upper chamber, where it could face amendments. If the Senate makes changes, the bill returns to the Sejm. Once a final version clears both chambers, it lands on the president's desk. He then has 21 days to sign or veto. Industry observers are watching closely: a veto would send the bill back to parliament, and the clock would restart.
The Senate is expected to take up the legislation in the coming weeks. If it passes there, all eyes turn to the presidential palace, where a veto would force a supermajority vote in the Sejm — a political test the government may not be ready to face.
