Polish President Nawrocki submits second crypto-assets bill to Sejm

New presidential initiative

On the morning of 8 September 2026, the Head of the Presidential Chancellery Zbigniew Bogucki announced the formal submission of a second presidential bill regulating crypto-assets to the Marshal of the Sejm. Bogucki presented the draft as an effort to resolve a legislative impasse ongoing since late 2025. He stated that the proposal takes the third government draft as its foundation while incorporating structural modifications. At present, no active government, Civic Coalition, or Left proposals remain under consideration in the lower house, while an alternative draft from Polska 2050 (print number 2737) submitted on 18 June 2026 remains stalled. Bogucki appealed to the ruling majority to review the presidential draft.

We are dealing with a situation where this issue can be resolved through compromise. Minimal, literally minimal goodwill on the part of the ruling coalition is needed.

Legislative standoff and parliamentary vote

The initiative follows a parliamentary vote on Friday, 4 September 2026, in which the Sejm failed to overturn President Karol Nawrocki's third veto. The contested legislation, initially passed by the Sejm on 15 May 2026, required a three-fifths majority to override the presidential refusal. In the vote among 442 deputies, 241 voted in favor of overriding the veto, 198 voted against, and 3 abstained. The coalition fell 25 votes short of the 266 required to enact the bill over presidential objections, leaving the veto in force.

Regulatory scope and constitutional disputes

The dispute centers on Poland's transposition of the European Union Markets in Crypto-Assets Regulation (MiCA), which took effect across member states at the end of 2024. The government of Prime Minister Donald Tusk designed its draft to grant supervisory authority to the Polish Financial Supervision Authority (KNF). Under the government draft, the KNF held powers to halt public offerings, suspend crypto-asset activities, and ban trading platforms to protect consumers from fraud. Nawrocki vetoed the measure on 11 June 2026, arguing that administrative overreach would stifle domestic industry and push Polish firms abroad. The presidential proposal substitutes purely administrative authority with reinforced judicial review, which the presidential chancellery described as necessary to uphold constitutional standards.

The president from the very beginning indicates that he is in favour of regulating the crypto-assets market in Poland. This is necessary, it can be done, but with respect for constitutional principles, which the government bills did not guarantee.

Industry collapse and political investigations

The legislative gridlock coincides with investigations surrounding the collapse of the cryptocurrency exchange Zondacrypto, which left hundreds of millions of euros in outstanding user debt. Inquiries by Wirtualna Polska and TVN24 reported that Zondacrypto head Przemysław Kral provided luxury gifts to the president of the Polish Olympic Committee. These items included a watch valued at 40,000 euros, allegedly given in exchange for assistance regarding scrutiny from the Office of Competition and Consumer Protection (UOKiK). Reporting also documented meetings between Law and Justice deputy Michał Moskal and Kral on Ibiza. Additional investigative findings alleged that Kral assisted wanted former deputy minister Marcin Romanowski during Romanowski's search for asylum in Dubai in early 2026.