The Polish parliament has entered a critical phase in its cryptocurrency policy discussions, with four competing bills under review, including a fresh proposal from the former ruling Law and Justice (PiS) party advocating a complete ban on all digital asset operations in the country. This marks a significant shift for PiS, which recently withdrew its initial crypto regulatory bill after losing support from several MPs.
The Sejm, Poland’s lower house, began debating these legislative initiatives following the inability of lawmakers to overturn President Karol Nawrocki’s veto on earlier crypto regulation efforts. The PiS ban proposal is set to be considered only after the other crypto-related bills have been fully discussed, as confirmed by Sejm Speaker Włodzimierz Czarzasty, who also expressed surprise at PiS’s sudden policy reversal amid ongoing legislative moves.
Alongside PiS’s proposal, parliament is examining crypto bills submitted by the government, the President, and opposition parties Poland 2050 and Confederation. The government and presidential drafts share many similarities but diverge on aspects like the scope of the Financial Supervision Authority’s power to freeze crypto accounts and the maximum fines for fraud-related offenses. Notably, the Ministry of Finance suggests penalties up to approximately $6.9 million for obstructing inspections, while the presidential bill lowers this cap to around $4.5 million.
Sejm Speaker Czarzasty outlined that all four bills will undergo review and debate this week, with a scheduled second reading to take place shortly thereafter. The PiS ban bill will only advance if its authors choose not to withdraw it following the completion of this process.
The debate also reignited controversy surrounding Zondacrypto, a cryptocurrency firm linked by some political figures to Russian financing and alleged misconduct. Prime Minister Donald Tusk accused the company of sponsoring lawmakers opposed to crypto regulation, suggesting undue influence over legislative decisions. These allegations were central to discussions around President Nawrocki’s twice exercised veto power against earlier crypto legislation. Czarzasty called for clarity around these issues as part of the broader parliamentary crypto deliberations.