Poland is preparing a new crypto bill after parliament failed to override President Karol Nawrocki’s veto of legislation regulating the market, according to Polish business daily Rzeczpospolita.

The Finance Ministry is working on the bill draft, a Civic Coalition spokeswoman said. Polish People’s Party lawmaker Krzysztof Paszyk confirmed the effort and said the government would provide more details on the timing in the coming days.

The Sejm, the lower house of the Polish parliament, on Friday voted 241 to 198, with three abstentions, against overturning the presidential veto. The result was below the three-fifths threshold required, with PiS, Confederation and Development+ voting against the motion.

In a statement, Polish Finance and Economy Minister Andrzej Domański accused PiS of defending Nawrocki’s repeated vetoes of crypto market regulations and then spent weeks accusing the state of failing to protect consumers. He said the party had again chosen murky crypto business interests over the safety of Poles when faced with the same choice.

The failed attempt followed Nawrocki’s decision in June to veto crypto asset regulations for the third time. The bill would have implemented the European Union’s Markets in Crypto-Assets Regulation (MiCA).

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The legislation was passed by parliament in May amid growing fallout from the collapse of Zondacrypto and a debate among lawmakers over the level of oversight needed for the rapidly expanding crypto industry.

Nawrocki said he supported regulating the sector and strengthening consumer protection. He also accused the government of disregarding most of the proposals prepared by his office.

Zondacrypto scandal fuels political battle over Poland’s crypto law

Zondacrypto, formerly BitBay, was once Poland’s largest domestic crypto exchange. It came under scrutiny after customers began reporting delayed and blocked withdrawals in late 2025 and early 2026.

In April, the exchange’s website was down, trading pairs disappeared, and its native ZND token sank to near zero.

Polish prosecutors estimate that customers lost at least $95 million, although some estimates are higher, with thousands of users affected.

Authorities have launched a criminal investigation into suspected fraud and money laundering, following funds across Estonia, Italy and Switzerland. Several people have been arrested, including a stock trader and the head of the Polish Olympic Committee over alleged connections to Zondacrypto.

The scandal heightened political pressure for tighter oversight and helped push the Sejm to pass a crypto assets bill in May.

The case has since become part of a wider political dispute. Former Justice Minister Zbigniew Ziobro allegedly accepted political financing from Zondacrypto CEO Przemysław Kral and his law firm. Ziobro has denied any wrongdoing and personal contact with the donor.

PiS leader Jarosław Kaczyński said the incidents had no connection to his party, while conceding that Ziobro’s alleged actions were a mistake.

Government politicians and experts have argued that Nawrocki’s vetoes could expose him and right-wing parties to political fallout over the unregulated market.