Poland fails third bid to override Nawrocki's crypto veto

Polish lawmakers failed by 25 votes to override President Karol Nawrocki's veto of crypto regulation. The vote was the third attempt to reverse the veto. Of 442 lawmakers present, 241 voted to override it. Another 198 opposed the motion. Three abstained. The vote required 266 votes, or a three-fifths majority. Nawrocki said lawmakers had addressed only one of the 16 changes his office proposed before his June 11 veto. He first vetoed the legislation in December and rejected an earlier version before issuing the June 11 veto. The bill would have designated Poland's Financial Supervision Authority, known as KNF, as the country's official crypto regulator. The bill would have aligned domestic rules with the EU's Markets in Crypto-Assets Regulation. EU member states were required to implement MiCA by July 2026. Poland remains the only EU member state without a functioning national framework for MiCA. The standoff coincides with a criminal investigation into Zondacrypto, formerly known as BitBay. Prosecutors linked the case to the 2022 disappearance of BitBay founder Sylwester Suszek. Prosecutors estimated investor losses at no less than 350 million zlotys, roughly $95 million. Olympic Committee President Radosław Piesiewicz was reportedly detained over alleged ties to Zondacrypto founder Przemysław Kral. Zondacrypto's Estonian operator, BB Trade Estonia, was declared bankrupt in August. Creditors are scheduled to meet on September 17. Prime Minister Donald Tusk argued that stronger oversight could have prevented the alleged fraud. Nawrocki said expanded powers, including the authority to block websites, would push legitimate firms abroad rather than protect consumers. The failed override left the veto legally in force. Polish crypto firms continue to face uncertainty over licensing and enforcement. KNF has acknowledged that Poland still lacks a designated authority for the sector.