Poland Passes MiCA Crypto Bill Amid Zondacrypto Fraud Investigation

Poland passed the MiCA crypto bill while prosecutors investigate Zondacrypto over missing funds and alleged financial fraud claims.

Poland approved a new crypto regulation bill on Friday after months of political disagreement. The law supports the European Union’s Markets in Crypto-Assets (MiCA) rules. Moreover, the decision came during a large fraud investigation involving Zondacrypto. Thousands of users still cannot withdraw money from the exchange platform.

According to Reuters, the Polish government moved quickly before the July 2026 deadline set by the European Union. If Poland fails to complete the process on time, local crypto firms may lose authorization to provide digital asset services. Therefore, lawmakers pushed the bill forward despite continuing political tensions in Warsaw.

Earlier this year, Poland remained without clear crypto regulations after President Karol Nawrocki rejected earlier versions of the bill. Later, lawmakers attempted to overturn his veto in parliament. However, they secured only 243 votes, not the required 263. As a result, the political conflict over crypto oversight continued for several months.

New Law Gives Stronger Powers to Polish Regulators

The new bill increases the authority of Poland’s Financial Supervision Authority, also called KNF. The regulator will directly supervise digital asset companies operating in the country. In addition, the authority can suspend crypto offerings connected to unlicensed firms.

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The KNF will also gain the power to freeze websites and block accounts linked to illegal crypto services. In addition, the regulator can issue fines reaching 25 million zlotys against companies breaking the rules. Therefore, the government hopes the law will strengthen investor protection across the crypto sector.

Despite the parliamentary approval, President Karol Nawrocki still holds veto power over the legislation. He previously argued that stricter rules could increase pressure on businesses and reduce innovation.

However, lawmakers added tougher financial penalties to the latest version. As a result, many officials believe the updated bill has a better chance of approval.

According to Reuters, Poland must adopt MiCA rules before July 2026 to protect local crypto firms from losing operating rights. The European Union introduced MiCA to create common digital asset regulations across member states. Therefore, many European governments are now updating their crypto laws quickly.

Zondacrypto Crisis Raises Security and Political Concerns

The approval of the crypto bill comes during a major investigation into Zondacrypto. Prosecutors estimate investor losses now exceed 350 million zlotys, or nearly $95.93 million. Moreover, thousands of users remain unable to access their funds through the exchange platform.

Authorities are also examining the company’s leadership history. The founder, Sylwester Suszek, disappeared in 2022 under unclear circumstances. Meanwhile, Polish media reports say former executive Przemyslaw Kral currently lives in Israel and holds Israeli citizenship. Therefore, investigators may face extradition challenges during the investigation process.

Prime Minister Donald Tusk recently claimed that Polish security services suspect Russian criminal connections linked to the exchange. Furthermore, officials fear cryptocurrencies may support foreign political interference and illegal financial activities. As a result, pressure increased on lawmakers to tighten oversight of the crypto market.

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