The Polish Sejm again attempted to override President Andrzej Duda’s veto of the crypto asset market law on Friday, falling short of the required votes.
Second Attempt to Overrule Veto
This was the Sejm’s second attempt to reject President Karol Nawrocki’s veto of the crypto asset market law. The President initially vetoed it in early December 2025, and the Sejm failed to override that veto at the time.
The government then resubmitted the same law, which was passed in February. The President vetoed it again, leading to Friday’s vote.
Vote Breakdown
The Sejm voted 243 to 191 to attempt to override the veto, with three abstentions. A total of 263 votes were needed to successfully override the President’s decision.
All 156 members of the Civic Coalition (KO) and 32 members of the Polish People’s Party-Third Way (PSL-Trzecia Droga) voted to override the veto. 171 PiS MPs voted against overriding the veto, with 17 abstaining, including party leader Jarosław Kaczyński and club chairman Mariusz Błaszczak. Fifteen Confederation MPs also voted against, with one abstention.
Support from Other Parties
Nineteen members of the Left voted to override the veto, with two abstentions. The entire Centrum club, with 15 members, voted in favor. Twelve members of Poland 2050 also supported overriding the veto, with three abstaining.
All four members of the Razem (Together) group supported the override, while three members of the Confederation Korony Polskiej abstained. Four members of the Democracy group voted against the override.
Individual Votes and Concerns
Five unaffiliated MPs – Marcin Józefaciuk, Paulina Matysiak, Joanna Mucha, Paweł Zalewski, and Tomasz Zimoch – voted to override the veto, while Marek Jakubiak voted against.
Presidential officials argued the law contained excessive regulations and failed to incorporate necessary amendments proposed during the legislative process. Government and coalition representatives contend the lack of legislation creates legal loopholes and compromises consumer protection.
Rationale for the Law and Criticisms
The purpose of the crypto asset law is to implement the EU’s MiCA (Markets in Crypto-Assets Regulation). The law introduces supervisory measures, including allowing the Polish Financial Supervision Authority (KNF) to suspend public offerings of crypto assets.
Finance Minister Andrzej Domański criticized the presidential veto, stating it creates “an Eldorado for fraudsters” and weakens market security. He emphasized the need for regulations to protect investors.
Political Context and Internal PiS Dynamics
During Thursday’s debate, the Head of the Presidential Chancellery, Zbigniew Bogucki, warned that overly strict regulations could drive crypto companies to relocate abroad, potentially harming Polish clients.
Recent developments within PiS include Mateusz Morawiecki establishing the “Rozwój Plus” association and attracting MPs, signaling a potential challenge to Jarosław Kaczyński’s leadership.
