President Karol Nawrocki has officially vetoed Poland’s Cryptoasset Market Act, halting legislation he says would have imposed unnecessarily harsh restrictions on the country’s rapidly growing cryptocurrency sector. In a statement published on his official website, Nawrocki warned that several sections of the bill posed “a real threat to the freedom of Poles, their property, and the stability of the state,” raising serious concerns about government overreach and potential damage to the tech industry.
Concerns Over Website Blocking and Regulatory Burden
One of the president’s strongest objections focused on provisions that would allow authorities to block crypto company websites “with a single click.” He argued that the rules surrounding domain blocking were vague, open to abuse, and lacked adequate safeguards. Nawrocki also criticized the bill’s excessive length—spanning more than 100 pages—especially when compared with much simpler regulatory frameworks adopted by neighboring countries.
Beyond the complexity of the act, the president highlighted the high regulatory fees that he believes would favor large corporations while stifling innovation among smaller startups. Such financial barriers, he warned, would create an uneven playing field and discourage homegrown entrepreneurs from entering the market.
Risk of Pushing Crypto Innovation Abroad
Nawrocki cautioned that overregulating the sector would likely push crypto businesses to relocate to more welcoming environments, such as the Czech Republic or Slovakia. Instead of encouraging investment and technological development within Poland, he argued, the act could drive opportunity out of the country.
Elected in June as an independent supported by the Law and Justice party, Nawrocki emphasized that smart, balanced regulation—not restrictive policies—is key to fostering innovation while protecting consumers. His veto signals a call for lawmakers to rethink the approach and craft legislation that supports rather than stifles Poland’s growing crypto economy.
