Polish lawmakers failed to overturn a presidential veto of cryptocurrency legislation, leaving a key regulatory package blocked as authorities expand their investigation into Zondacrypto and the exchange’s Estonian operator enters bankruptcy.
Veto Stands, Bill Stalls
The presidential veto remains in force after lawmakers were unable to secure the required majority to override it. Under Poland’s constitution, overturning a presidential veto requires a three-fifths vote in the Sejm with at least half of deputies present. The result leaves the crypto bill off the books unless a revised proposal is introduced and passed in a new legislative process.
The setback keeps Poland without the additional national measures that had been proposed for digital asset service providers, prolonging uncertainty for local market participants.
Zondacrypto Probe Widens; Estonian Operator in Bankruptcy
The decision comes as the investigation into Zondacrypto widens. At the same time, the company’s Estonian operator has entered bankruptcy, adding operational and legal complications for the exchange and its users. Details of the expanding probe were not immediately disclosed, but the developments increase scrutiny on one of Central and Eastern Europe’s better-known crypto trading platforms.
EU Rules Provide Broader Backdrop
Poland’s stalled bill plays out against the European Union’s Markets in Crypto-Assets (MiCA) framework, which sets pan-EU requirements for crypto-asset service providers, including licensing, prudential, and conduct standards. While MiCA establishes common rules, member states often deploy additional national measures and supervisory practices—now on hold in Poland pending any new draft legislation.
What’s Next
- Lawmakers could rework and refile crypto rules in a new bill.
- Supervision of crypto service providers will continue under existing national laws alongside EU-level requirements.
- Developments in the Zondacrypto investigation and its operator’s bankruptcy proceedings remain key to watch for market impact.