Poland’s lower chamber of parliament has given the green light to a cryptocurrency regulation bill aimed at aligning the nation’s legal framework with the European Union’s Markets in Crypto-Assets Regulation (MiCA). The legislative move comes against the backdrop of a deepening fraud investigation into the local digital asset exchange Zondacrypto, with prosecutors estimating customer losses at more than 350 million Polish zloty—roughly $96 million—and thousands of users unable to access their funds. Investigators are also probing allegations of “Russian funds” and foreign political influence connected to the exchange.
The newly passed legislation, which must now be signed by President Karol Nawrocki, grants Poland’s Financial Supervision Authority (KNF) robust oversight powers over crypto service providers. It introduces mandatory licensing, extensive reporting obligations, and criminal penalties for serious violations related to token issuance and exchange operations. Lawmakers felt increasing pressure to act before a July implementation deadline from the European Union, but also faced mounting public anger over the Zondacrypto collapse.
President Nawrocki had previously vetoed two earlier versions of the MiCA implementation bill, arguing that the proposed regulations were “excessive, vague, and disproportionate.” He warned that heavy-handed rules could drive crypto businesses away from Poland, potentially stifling innovation. However, the fallout from the Zondacrypto scandal has shifted political priorities, leading to the reintroduction of a tougher bill. The Zondacrypto case has taken on national-security overtones, with Prime Minister Donald Tusk suggesting that the scandal may extend beyond ordinary financial fraud. During a press conference, he indicated that “Russian funds” and foreign political influence could be involved, elevating the matter from a business failure to a potential security concern.
Zondacrypto’s founder, Sylwester Suszek, has been missing since March 2022, while current CEO Przemysław Kral has reportedly left Poland for Israel, further eroding public trust. In earlier statements, Kral claimed that Suszek never handed over private keys to a wallet containing 4,500 Bitcoin—worth around $336 million at the time—and that the address was last active in November 2025, leaving a critical gap in the exchange’s balance sheet. The Regional Prosecutor’s Office in Katowice has assigned the case to the Central Cybercrime Bureau, which is reviewing more than 1,500 complaints and examining whether illicit funds were funneled through the platform.
If President Nawrocki signs the bill, Poland will finally have a formal licensing regime and enforcement toolkit under MiCA. The Zondacrypto case will likely serve as a high-profile test of how far the new powers will be applied in practice, as the country moves to balance innovation with investor protection.