Polish lawmakers have approved a long-discussed cryptocurrency bill, moving to align the country with European Union markets in regulating crypto assets, as a fraud investigation linked to a major exchange inflames political tension in Warsaw.
The legislation, passed on Friday, establishes a framework for licensing, supervision and consumer protection across the cryptocurrency sector, according to the website. Reuters Preparing reports. Poland faces a July deadline to implement MiCA or risk local companies being forced to stop crypto asset services, according to the national financial regulator.
The vote goes down as prosecutors Searching Zondacrypto, once the country’s largest exchange, collapses, with thousands of users still unable to access funds. Authorities estimate losses at more than 350 million zlotys, or about $96 million, turning the case into one of the most significant cryptocurrency failures in Central Europe.
Prime Minister Donald Tusk The platform is connected To the alleged foreign influence, citing the results of the security services indicating the presence of Russian capital behind the stock exchange. He described the company’s origins as mysterious and raised concerns about its past sponsorship of events involving nationalist opposition figures. Moscow denied any role in sabotage or secret activities across Europe.
Zondacrypto’s founder, Sylvester Soszczyk, has been missing since 2022. Polish media reported that his successor, Przemyslaw Kral, resides in Israel, where he holds citizenship, a factor that could complicate any extradition efforts.
Poland is considering regulating cryptocurrencies
The scandal exacerbated divisions within Poland’s political system How to organize Digital assets. President Karol Nawrocki, supported by the opposition, has vetoed previous versions of the bill, arguing that strict rules and high penalties could drive companies out of the country. He proposed an alternative framework with lower fines and stronger judicial oversight of enforcement proceedings.
At the same time some Polish Lawmakers have pushed for tougher measures. A proposal by PiS members would ban cryptocurrency-related commercial activities, citing consumer risks and limited enforcement capacity. The plan would impose criminal penalties for work in the sector, representing one of the most restrictive approaches within the EU.
Instead, the government’s draft law puts the task of supervising the Polish Financial Supervision Authority, giving it powers to suspend offers, block accounts, and impose penalties for market abuse. Supporters argue that compliance with MiCA will provide legal clarity and restore trust after the collapse of Zondacrypto.
For investors and businesses, the outcome now depends on whether the president signs the legislation. A veto could again put Poland in violation of EU requirements, raising the prospect of market turmoil at a time when scrutiny of the sector is intensifying.
