Second MiCA veto in Poland 2026: President Nawrocki blocks crypto law

The legal landscape for the Polish digital asset sector has hit a major deadlock. On February 16, 2026, President Karol Nawrocki officially refused to sign the Ustawa o rynku kryptoaktywów, the national law intended to implement the EU’s MiCA regulation. This second MiCA veto, Poland has escalated a technical regulatory process into a fierce constitutional and political battle between the Presidential Palace and Donald Tusk’s government.

While the Cabinet argues that urgent crypto regulation in Poland is needed to protect investors and curb foreign influence, the President insists that the current draft is a recipe for administrative overreach. As a result, for those seeking a crypto license in Poland, this development signals a prolonged period of legal uncertainty.

Timeline of the MiCA law in Poland: deadlock

The journey of the crypto-asset market in Poland has been marked by repeated friction between the legislative branches:

November 2025: The Sejm adopts the first draft of the MiCA Law.
December 2025: President Nawrocki issues the first Poland MiCA veto, citing excessive burdens on small businesses.
January 2026: The Sejm passes a revised version, rejecting a Senate attempt to hike supervisory fees to 0.5%.
February 16, 2026: In a decisive move, the Nawrocki veto of MiCA returns the law to the Sejm once again.

Why the President blocked the crypto law: rights vs. regulation

President Nawrocki’s refusal to sign the MiCA law in Poland stems from fundamental concerns over civil liberties and the balance of power. The debate highlights the tension between investor protection and overregulation.

1. Domain Blocking Without Oversight

A major “stumbling block” is Article 67, which allows the KNF, the crypto supervision body, to add domains to a blacklist without prior court approval. The President argued that the vague term “risk of serious harm,” used as a basis for domain blocking by KNF, creates a vacuum for administrative abuse and unfair competition.

2. Excessive Asset Freezing

The law proposed allowing the KNF Chairman to suspend transactions and block accounts for up to six months. In the highly volatile crypto-asset market in Poland, Nawrocki noted that waiting 6 months could result in a total loss of asset value for innocent users. He maintains that any block lasting more than 96 hours must be verified by a court.

3. Financial Barriers for SMEs

The President reiterated that high annual supervision fees create “critical financial barriers” for smaller players, effectively stifling the local VASP register in Poland in favor of larger corporate entities.

Consequences for business: the July 2026 сliff

The second MiCA veto, Poland leaves the industry in a dangerous “limbo.” Without a signed law, the KNF lacks the formal authority to issue a cryptocurrency license in Poland under EU standards.

The MiCA Transitional Period July 1, 2026

The most pressing threat is the approaching deadline. Polish companies operating under the old national regime rely on the MiCA transitional period in Poland. However, if the implementing law is not active by July 1, 2026, these entities will lose their legal basis to operate. A mass shutdown or exit from the Polish market is a very real possibility.

Discriminatory Competition

While local firms are stuck, foreign CASP passporting to Poland remains a reality. Under Article 65 of MiCA, companies licensed in other EU member states can use EU passporting rights to serve Polish clients by simply notifying the relevant authorities. This creates a discriminatory environment in which foreign firms thrive while local projects are forced to relocate to other jurisdictions to maintain business continuity.

Political escalation and national security

The conflict has also taken a darker turn, with the government using national security rhetoric. Reports suggest the Cabinet may publish intelligence links between opposition politicians and the crypto industry—specifically naming the Zondacrypto exchange, though no capital ties to the President have been proven. The Presidential Palace has dismissed these claims as political improvisation.

Summary: a critical road ahead

The ongoing Poland MiCA veto crisis proves that in 2026, crypto is no longer just a financial niche—it is a central pillar of national political strategy. Polish companies are now in a race against time.

Poland crypto limbo 2026: No domestic licenses can be issued.
Regulatory vacuum: KNF has no MiCA enforcement powers.
Passporting disparity: Foreign firms dominate, local firms are stuck.

At Manimama Law Firm

At Manimama Law Firm, we specialize in helping businesses survive the Poland crypto limbo 2026. Contact us today to discuss alternative compliance strategies and explore registration in other EU jurisdictions to secure your EU passporting rights for crypto.