On 1 December, President Karol Nawrocki blocked legislation intended to regulate the cryptocurrency market.
His spokesperson, Rafał Leśkiewicz, said the president believed “the state should support entrepreneurs, not restrict them,” arguing that Polish companies must be able to grow domestically “without bureaucratic barriers and without being pushed abroad.”
The decision has sharply divided opinion.
Poland’s Finance and Economy Minister, Andrzej Domański, warned that the veto goes against the interests of customers, investors and Polish firms operating in the crypto-asset sector.
According to the minister, roughly one in five clients already lose money due to abuses on the largely unregulated market, and the bill was intended to provide basic consumer protections.
Domański argued that the president has “chosen chaos” and must take responsibility for the consequences.
Deputy PM and Foreign Minister Radosław Sikorski voiced similar concerns, saying the bill would have introduced long-overdue regulation.
Poland’s top diplomat cautioned that when the speculative bubble bursts and “thousands of Poles lose their savings,” citizens will know who is to blame.
Prime Minister Donald Tusk, speaking after an official visit to Berlin on Monday, also addressed the veto.
The head of government noted that although President Nawrocki - backed by right-wing populists from the Law and Justice (PiS) party - continues to block record numbers of parliamentary bills, he cannot obstruct Poland’s improving economic performance.
Tusk pointed to higher-than-expected industrial production, rapidly rising investment and increasingly positive business sentiment, remarking that the figures were met in Germany “with open envy”. Fortunately, he added, “the president cannot veto that.”
In a follow-up post shared on Tuesday morning, 2 December, Donald Tusk said that calling the president's veto on cryptocurrency regulation "ambiguous" is an understatement.
"Behind it are a big money, scandals and investigations, the mysterious disappearance of the 'crypto king,' and support of the far-right campaign involving President Duda and Nawrocki. It looks very bad," he added.
The head of the Prime Minister’s Chancellery, Jan Grabiec, also condemned the veto as a boon for fraudsters.
Grabiec argued that an unregulated cryptocurrency market creates ideal conditions for scams, and questioned where victims are expected to seek help “if not through state oversight”.
Government spokesperson Adam Szłapka responded to the presidential decision, saying: “The president has blocked the cryptocurrency regulation law, which was designed to protect Poles from fraud and Russian money laundering. The result? Poles, uniquely in the EU, are left without protection, fraudsters have a free hand, and Putin is rubbing his hands,” Szłapka wrote on his X profile.
By contrast, Sławomir Mentzen, leader of the far-right Confederation party, praised the president’s decision. He said it reflected the wishes of the crypto industry and argued that Poles could simply trade on foreign exchanges if domestic regulation became too restrictive.
(mp)
Source:
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