Polish Parliament Speaker Włodzimierz Czarzasty accuses President Karol Nawrocki of responsibility for citizens losing savings due to his vetoes of cryptocurrency legislation.
Zondacrypto Case Sparks Calls for Inquiry
Włodzimierz Czarzasty stated that the Zondacrypto case is ideal material for a parliamentary investigative committee, but requires careful consideration. He asserts that President Karol Nawrocki is accountable for citizens losing their savings by vetoing the cryptocurrency act.
Czarzasty told PAP that a key question for a potential investigative committee would be why President Nawrocki vetoed the cryptocurrency market act despite possessing relevant knowledge. He emphasized that the government warned of the risks, which were also discussed in closed-door Sejm sessions.
President Nawrocki Directly Responsible, Czarzasty Claims
“The cryptocurrency act was vetoed twice, and I want to state clearly and precisely: this is simply the responsibility of President Nawrocki,” Czarzasty declared. He added that the President’s actions have led to people losing money and savings, and he will not escape accountability.
Investigative Committee Dependent on Coalition Agreement
When asked if a Sejm investigative committee should be established regarding the Zondacrypto case, Czarzasty responded affirmatively, stating it would happen when the governing coalition parties agree it is a good idea. He noted that the issue has not yet been discussed among coalition leaders.
Further Investigation Needed Before Action
Czarzasty indicated he does not currently prioritize a meeting to propose the committee’s formation, emphasizing the need for careful consideration. However, he believes the truth will eventually emerge due to public demand, particularly from those losing money.
Repeated Vetoes of Cryptocurrency Act
Last Friday, the Sejm again failed to override President Karol Nawrocki’s veto of the cryptocurrency act. This marked the second attempt by the Sejm to reject the President’s veto of the cryptocurrency market act.
The President initially vetoed the act in early December, and the Sejm did not override the veto during that month. The government then resubmitted the same act to the Sejm, where it was passed and subsequently vetoed again by the President in February. The second version differed only in the maximum fee rate for KNF supervision of the market.
The Zondacrypto Affair Explained
Media reports in early April highlighted potential liquidity problems at Zondacrypto, Poland’s largest cryptocurrency exchange. An analysis by money.pl and Wirtualna Polska revealed a 99% decrease in the exchange’s Bitcoin reserves, with users reporting difficulties withdrawing funds.
Zondacrypto holds a portfolio of 4.5 thousand Bitcoins worth over $300 million, but the keys are reportedly held by Sylwester Suszek, the founder of BitBay (Zondacrypto’s predecessor), who has been missing since March 2022. Suszek is known as the “king of cryptocurrencies.”
