On December 1, 2025, President Karol Nawrocki vetoed the bill regulating the cryptocurrency market in Poland. This decision sparked extreme reactions. For some, it was a defense of entrepreneurs against excessive state control, while for others – the beginning of legal chaos. One thing is certain: the effects of the veto will be felt not by politicians, but by Polish companies and users of the crypto market.
It is worth starting with a key fact. The presidential veto does not stop the EU regulation MiCA. As a regulation, rather than a directive, MiCA applies directly in all EU countries, including Poland. Therefore, the lack of a national law does not mean a lack of regulation, but rather a lack of tools to implement it at the local level.