Political deadlock over the crypto-assets act - the origins of the conflict
For many months Poland has been struggling with a serious regulatory problem concerning the cryptocurrency market. President Karol Nawrocki has twice vetoed the crypto-assets act, and the Sejm has failed to gather the majority required to override the veto. In the most recent vote, 191 MPs voted to override against a required 263 votes - a shortfall of as many as 72 votes, which clearly shows the scale of the political divisions on this issue.
The dispute became personal when the President publicly revealed that the first letter from the Internal Security Agency (ABW) concerning irregularities on the cryptocurrency market reached the Chancellery of the President only on 12 December 2025 - that is, 11 days after the act was vetoed and a week after the closed session of the Sejm. The President suggests that he took his decision without full knowledge of the risks.
The government presents a different version of events. Government spokesman Adam Szłapka firmly denied that the President lacked the relevant information. He pointed out that before the second veto Nawrocki received data from the special services, and that the closed session of the Sejm included detailed information on the risks connected with the activities of specific cryptocurrency platforms.
For citizens and investors, one question remains key: who is actually responsible for the current regulatory gap and what legal consequences follow from the absence of rules protecting market participants?
The MiCA Regulation and the Polish regulatory gap
One of the most important threads of this dispute is the implementation of the EU MiCA Regulation (Markets in Crypto-Assets Regulation). It is a comprehensive European Union legal act that establishes a uniform regulatory framework for the crypto-asset market in all member states. Poland was obliged to prepare supplementary national provisions by a set deadline.
President Nawrocki accuses the government of having had 11 months to prepare appropriate legislation and of wasting that time. He points out that institutions such as the National Revenue Administration (KAS) and the prosecutor's office could have taken supervisory action much earlier, before the situation on the market got out of control. On the other hand, legal experts note that the vetoed government bill was not free of flaws either.
Lawyers specialising in new technology law clearly assess the government bill as a "legal botch" that needed substantial amendments. At the same time, they stress that a complete absence of national regulation is an even worse solution. A paradox arises: the act was imperfect, but its absence creates more serious risks for users.
It is also worth noting that the MiCA Regulation itself applies directly in EU member states, but it requires national implementing provisions - for example, designating a supervisory authority, licensing procedures and sanctions. Without these provisions, the protection of Polish cryptocurrency investors remains significantly weakened.
The zondacrypto case - legal risks for clients
The political dispute is overlaid by the real and dramatic situation of clients of the zondacrypto platform - the largest cryptocurrency exchange run by Poles. For several weeks users have been unable to withdraw their funds, which means their assets are effectively frozen. The situation is further complicated by media revelations about the platform's alleged links to Russian capital.
Allegations of Russian links
According to findings reported by Gazeta Wyborcza, citing sources in the ABW and the Chancellery of the Prime Minister, the zondacrypto platform was reportedly linked to the structures of the Tambov Gang (the Tambov brotherhood) - a Russian criminal group active since the 1980s. The organisation, which initially engaged in extortion, eventually took control of the fuel and energy sector in St Petersburg. The media have repeatedly pointed to its links with the highest levels of Russian power.
The question of the Estonian VASP licence
An important legal aspect is the fact that zondacrypto operated on the basis of an Estonian VASP (Virtual Asset Service Provider) licence. This means that even if the vetoed crypto-assets act had entered into force, the platform would not have been directly supervised by the Polish Financial Supervision Authority (KNF) until 1 July this year. This shows how complex the regulatory problem is - national rules alone would not have resolved all the risks immediately.
Zondacrypto clients who have lost access to their funds should consider taking legal steps without delay, including:
- Reporting the matter to the prosecutor's office - where there is a suspicion of misappropriation of property or fraud
- Filing a complaint and a demand for payment - as a formal step preceding court proceedings
- Securing evidence - screenshots of transactions, correspondence with the platform and proof of payments
- Consulting a lawyer specialising in new technology law and consumer protection
- Monitoring any potential class actions - where there are many injured parties, they may offer a more effective route to pursue claims
The consequences of no regulation - what does it mean for investors?
The current situation puts Polish cryptocurrency investors in an exceptionally difficult position. The lack of national provisions supplementing EU regulations means that responsibility for market supervision is dispersed among various institutions, none of which has full competences dedicated to the crypto-asset market.
From a legal standpoint, the consequences of this state of affairs are multidimensional. Users of cryptocurrency platforms do not enjoy the level of protection afforded to clients of traditional financial institutions supervised by the KNF. In the event of a platform's insolvency or dishonest conduct, pursuing claims is considerably harder and more costly.
The political deadlock between the Presidential Palace and the parliamentary majority does not promise a quick resolution. For those who already invest in cryptocurrencies or are considering entering this market, taking care of your own legal security becomes key - verifying platforms' licences, diversifying where digital assets are stored and using hardware wallets rather than keeping funds solely on exchanges.
It is also worth remembering that tax obligations connected with cryptocurrency trading remain in force regardless of gaps in market regulation. Every sale of cryptocurrency at a profit creates a tax liability, and incorrect reporting may result in serious sanctions from the tax authorities.
How to protect your interests on the cryptocurrency market
In the face of regulatory uncertainty and growing risks on the Polish cryptocurrency market, professional legal assistance is becoming not a luxury but a necessity. Whether you are an injured zondacrypto client, an active crypto-asset investor or a business owner planning to operate in the blockchain sector, you need the support of a lawyer who understands both the technology and the rapidly changing regulatory environment.
Our firm offers comprehensive legal assistance in new technology law, cryptocurrency regulation, pursuing claims against trading platforms and tax optimisation of digital asset transactions. Contact us today to discuss your situation and learn about the available options for legal protection. An initial consultation will help assess your risk and plan an effective course of action.
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