Polish lawmakers tried, but failed, to overturn a presidential veto on a government-proposed bill aimed at introducing comprehensive rules for the cryptocurrency market in Poland.
The controversial legislation has become a focal point in a political struggle in Warsaw, with Prime Minister Tusk now accusing Head of State Nawrocki of acting under Russian influence.
Polish cryptocurrency law remains in limbo
Members of the ruling majority in the House of Representatives were unsuccessful in another attempt to override the Polish president’s veto of their proposal to regulate the cryptocurrency space in the country.
At Friday’s session, 243 of them voted against the veto, short of the 263 votes needed to override it. Another 191 deputies supported Carol Nawrocki’s decision to stop adopting the bill.
The government has introduced the latter with the aim of transposing EU Markets in Cryptoassets (MiCA) rules into national law, but critics say it is tougher than European legislation.
So far, Nawrocki has done just that to stop He has done so twice, citing over-regulation and excessive burden on small businesses among his motivations, and this is his second push to overcome his opposition.
When he brought it back for amendments in December, the president warned that Poland’s crypto-asset market law “threatens the freedom and property of Poles and the stability of the state.”
Poland becomes “El Dorado for fraudsters”
Representatives of Tusk’s center-left government attacked Nawrocki, who is supported by the right-wing opposition, for preventing the regulation of cryptocurrencies in the country.
Poland remains the only member state of the European Union After compliance With the framework adopted by Brussels in 2024, the public broadcaster TVP noted in a report before the end of the week. You must do so by July.
Finance Minister Andrzej Domanjski said Friday that the lack of rules creates a “dorado for fraudsters,” adding that the veto leaves consumers and business people without adequate protection.
Tusk believes that Russian money is behind the veto in the field of cryptocurrencies
the Political conflict The Warsaw conference actually went beyond the normal debate on the future of cryptocurrencies and regulation in Poland.
In his latest attack, Donald Tusk claimed that a cryptocurrency company allegedly funded with money coming from Russia was sponsoring events promoting his opponents.
Among them is the meeting of the Conservative Political Action Conference in America (Temporary CPC) in the Polish city of Rzeszow in March last year, which supported Nawrocki’s campaign days before the presidential elections.
The Prime Minister was referring to Zondarcrypto, a major exchange in Poland. Speaking before the parliamentary vote, he was quoted by the Associated Press as saying:
“The source of this company’s financial success is not only Russian money linked to the so-called Bratva, one of the most important mafia groups in Russia, but also Russian intelligence.”
Citing information from the Polish security agency ABW, Tusk accused the trading platform’s CEO, Przemyslaw Kral, of making large donations to foundations linked to opposition figures.
The Prime Minister also insisted that his government’s withholding of cryptocurrency regulations is an indication that some politicians are serving corporate interests.
The exchange with Polish roots, now registered in Estonia, has recently become the main subject of multiple media reports revealing that it is facing liquidity issues affecting withdrawals and sponsorship payments.
While its CEO has rejected the allegations, so has he I confess This week, he does not have the key to a cryptocurrency wallet containing more than $330 million worth of Bitcoin (BTC) since the mysterious disappearance of his predecessor, Sylvester Soszczyk, in 2022.
Meanwhile, Interior Minister Marcin Kirwinski pledged that the current government in Warsaw will continue its efforts to regulate the cryptocurrency market.
“The plan is to continue to address this matter until we succeed, until the awareness of the threats and these strange interests that connect some right-wing politicians with this exchange finally reaches the president,” Polish national television quoted Kervinski as saying.
