Poles have cryptocurrencies, Poland has no law on them

Was the bill on cryptoassets vetoed by the president really too far-reaching, or was the veto due to other concerns? What does this decision mean for crypto investors and platforms? In our studio, we talk to Adrian Andrychowski, partner at AGK Legal and an expert in the crypto market.

The cryptocurrency market in Europe is entering a new phase – the MiCA regulation has been in force since mid-2024, the first comprehensive regulatory package aimed at organizing the rules of operation of crypto companies and increasing investor protection. Although member states are gradually adapting their regulations to the new rules, Poland remains the only country in the European Union that has not yet done so.

The Polish bill implementing MiCA was ready, but was vetoed by the president as too restrictive. This decision resonated widely in both the financial sector and the technology industry – and its consequences are only just beginning to materialize.

We talk about it in Bankier's studio Adrian Andrychowski, partner at AGK Legal and an expert in the crypto market, which for years has been observing the collision of a dynamically developing industry with a mature, often rigid legal order. We analyze whether the bill was actually too far-reaching, or whether the veto was based on other concerns – and what this decision means for investors and platforms trying to operate in an environment of regulatory uncertainty.

We also look at the consequences in a broader perspective – whether the lack of national regulations actually weakens investor security, whether it reduces the competitiveness of Polish institutions, and which market segments feel the regulatory vacuum the most. The conversation also includes the topic of the future – what the relationship between the European legal order and the future national law will look like, and what minimum standards must be included in it to ensure transparency to the market and actual protection to investors.

This is an important discussion at a time when digital assets are increasingly entering the mainstream, and a stable legal environment is becoming one of the key conditions for their responsible development in Poland.

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