Sejm Speaker Szymon Hołownia suggests a parliamentary investigation into the Zondacrypto crisis, criticizing President Nawrocki’s vetoes of related legislation.
Speaker Hołownia Calls for Investigation, Criticizes Presidential Vetoes
Sejm Speaker Szymon Hołownia indicated that a parliamentary inquiry into Zondacrypto is possible, though not currently prioritized within the coalition leadership. He sharply criticized President Karol Nawrocki’s repeated vetoes of cryptocurrency market regulations.
Hołownia questioned why President Nawrocki twice vetoed legislation concerning crypto assets despite being aware of the potential risks, noting the government had issued warnings and the issue was discussed in closed-door Sejm sessions.
“Responsibility Lies with President Nawrocki”
“The responsibility for the cryptocurrency act being twice vetoed lies squarely with President Nawrocki,” Hołownia stated. “He has led to a situation where people are currently losing money, their savings. He will not escape this responsibility.”
Commission Dependent on Coalition Agreement
When questioned about the potential for a parliamentary investigative committee, Hołownia responded that it would be established “when the parties forming the coalition decide it is a good idea and that it needs to be done.”
President Nawrocki Defends Vetoes
President Karol Nawrocki defended his vetoes, claiming he only received information regarding Zondacrypto after the first veto. He stated he was “cut off from information” surrounding the events.
Nawrocki argued that the government’s proposed legislation would not have addressed the current problems with Zondacrypto, characterizing Donald Tusk’s proposal as “overregulation.”
Sejm Fails to Override Presidential Vetoes
The Sejm failed to override President Nawrocki’s veto on the cryptocurrency act for a second time last Friday. The initial veto occurred in early December, but the Sejm was unable to overturn it at that time.
The government subsequently reintroduced the same bill to the Sejm, which passed it, only for President Nawrocki to veto it again in February. The second version differed only in the maximum supervisory fee rate for the KNF (Polish Financial Supervision Authority).
Zondacrypto’s Problems and Missing Founder
In early April, reports emerged indicating that Poland’s largest cryptocurrency exchange, Zondacrypto, was facing severe liquidity issues. 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 wallet containing 4,500 Bitcoins, valued at over $300 million, but the keys are held by Sylwester Suszek, the founder of BitBay (Zondacrypto’s predecessor), who has been missing since March 2022.
Hołownia: The Truth Will Emerge
Hołownia asserted that regardless of when the investigation begins—in a month, two months, or six months—the public will demand explanations. “But whether justice will come to light in a month, two months, or six months, we will still know the truth, because there will be great public expectation, especially from those people who are currently losing money,” he said.