Poland Veto Stands as Zondacrypto Scandal Deepens
Parliament falls short on veto override
Polish lawmakers have failed again to overturn President Karol Nawrocki’s veto of a bill that would strengthen oversight of the country’s crypto market. The Sejm, Poland’s lower house of parliament, voted 241 to 198 on Friday. Three lawmakers abstained. The result fell 25 votes short of the three-fifths majority needed to override the veto.
Nawrocki has now vetoed crypto legislation three times. He has said he supports regulation but argues the proposed rules go too far, citing concerns over regulatory costs and powers to block websites.
Key numbers
- Vote tally: 241 in favor, 198 against, 3 abstentions
- Votes needed to override: 266
- Votes short: 25
- Estimated losses from Zondacrypto: at least 350 million Polish zlotys ($95 million)
- Alleged payment tied to a foundation linked to former Justice Minister Zbigniew Ziobro: 2 million Polish zlotys ($550,000)
What the authorities say
The Polish Financial Supervision Authority, known by its Polish acronym KNF, said on Friday that Poland still does not have a designated national authority responsible for supervising cryptoassets. That gap exists even though the European Union’s Markets in Crypto-Assets Regulation, called MiCA, is already in force across the bloc.
How the scandal is unfolding
The vote comes as an investigation into defunct crypto exchange Zondacrypto expands. Its Estonian operating company, BB Trade Estonia, was declared bankrupt by an Estonian court in August. The first meeting of creditors is scheduled for September 17.
Prime Minister Donald Tusk disclosed excerpts from witness testimony before the vote. One witness alleged there was a payment arrangement involving a foundation linked to former Justice Minister Zbigniew Ziobro. In separate testimony, the witness said an unnamed person promised a presidential pardon if the witness was convicted.
Polish prosecutors are investigating suspected fraud and money laundering tied to Zondacrypto. In July, they merged that case with a probe into the 2022 disappearance of Sylwester Suszek, founder of the exchange, which was originally called BitBay. Prosecutors in April estimated losses linked to Zondacrypto at no less than 350 million zlotys.
What is confirmed
Lawmakers voted down the veto override. President Nawrocki has vetoed the bill three times. The KNF confirmed Poland lacks a designated crypto supervisor. An Estonian court declared Zondacrypto’s operator bankrupt, with a creditors’ meeting set for September 17. Prosecutors are investigating fraud, money laundering, and a merged case connected to Suszek’s disappearance.
Why this matters
Poland remains without a clear national regulator for cryptoassets despite EU-wide rules applying. The failed override leaves a regulatory gap at a time when a major exchange collapse and widening criminal probe are raising questions about oversight.
What happens next
The crypto bill is blocked for now. In Estonia, the first creditors’ meeting for Zondacrypto’s operator will take place on September 17.
