On December 1, Polish President Karol Nawrocki vetoed a crypto‑market law, triggering a volley of commentary from top political figures.
Donald Tusk on the Veto
Donald Tusk posted the day after the veto, calling the legislation “ambiguous,” and citing massive sums, scandals, investigations, the mysterious disappearance of the “king of crypto,” and a radical‑right campaign supported by Presidents Duda and Nawrocki. He expressed disapproval of the outcome.
Sławomir Mentzen Favors the Decision
Member of Parliament Sławomir Mentzen, a crypto advocate, warned that the law would be “suspicious” and that the industry would be targeted whenever it surfaces, stifling Polish innovation. He later praised the veto as a “great decision” aligned with crypto‑industry expectations.
Radosław Sikorski’s Take
The foreign minister noted that the veto prevented regulation that could protect Poles from potential financial loss if the crypto bubble burst. Sikorski urged that, once the bubble burst, people would know whom to thank.
Finance Minister Andrzej Domański Criticises
Andrzej Domański condemned the veto, claiming it sides with cash‑rich clients and large firms while exposing Polish citizens to market abuses, with 20 % of investors losing money. He blamed the president for “choosing chaos.”
Rationale Behind the Veto
State Secretary Rafał Leśkiewicz explained that the proposed law threatened Polish liberty, property, and state stability by allowing the government to block crypto firms with a single click, potentially leading to abuse. He also cited high supervisory fees that would hinder small firms and startups, favoring foreign corporations and banks at the expense of a competitive market.
What Are Cryptocurrencies?
Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on decentralized networks, typically built on blockchain technology, enabling peer‑to‑peer transactions without intermediaries.
