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Poland fails to override veto, leaving crypto licensing gap
A Sejm vote on Sept. 4 fell short of the threshold to overturn President Karol Nawrocki’s MiCA implementation veto, delaying designation of the domestic authority for MiCA applications.
Poland’s crypto market licensing timeline has been thrown into limbo after the Sejm failed on Sept. 4 to override President Karol Nawrocki’s veto of legislation needed to implement parts of the EU’s Markets in Crypto-Assets (MiCA) Regulation. According to CryptoSlate, lawmakers voted to re-enact the bill with 241 votes in favor, 198 against, and three abstentions, falling short of the threshold required to overcome the June 11 veto.
The delay means Poland still has not designated the domestic authority required to process ordinary MiCA applications. The Polish Financial Supervision Authority has said authorization proceedings cannot begin until that designation is made by law, leaving domestic firms unable to pursue licenses while EU-authorized rivals continue to enter Poland’s market.
Under MiCA, an authorized crypto-asset service provider can operate across member states through its home regulator, including by notifying the relevant regulator of the countries and services it plans to cover and then starting cross-border activity after an applicable waiting period. CryptoSlate reports that Polish regulators have confirmed this route remains available, and the advantage has grown since July 1, when Poland’s MiCA transition period expired and firms could no longer rely on the previous virtual-currency activity register for authorization.
For applicants that want to stay within Poland, CryptoSlate says the next step depends on lawmakers passing legislation that designates the competent authority. Until then, the quickest route back to Polish customers may be through an EU affiliate that obtains MiCA authorization elsewhere, completes the cross-border notification process, and then serves Polish clients.