Donald Tusk is preparing a new crypto-assets bill after fresh allegations involving Zondacrypto increased pressure on the Polish government to tighten oversight of digital asset platforms.
Summary
Poland’s government plans to introduce another crypto regulation bill following fraud and money laundering allegations linked to Zondacrypto.
Prime Minister Donald Tusk wants harsher penalties for platforms accused of exploiting investors or threatening national security.
President Karol Nawrocki’s office says it will review the complete draft before deciding its stance.
The proposal follows earlier crypto legislation that was previously blocked by President Nawrocki.
Authorities reportedly opened an investigation on April 17 into possible fraud involving Zondacrypto clients, as well as alleged money laundering activity. According to reports from Polish Radio, prosecutors are also examining potential links to Russian entities and organized crime, although the investigation remains ongoing and unresolved.
Zondacrypto rejects allegations
The investigation reportedly centers around customer withdrawal complaints and alleged investor losses. Reports from CoinGeek stated that Polish authorities estimated losses connected to the case at roughly 350 million złoty, or approximately $97 million, as of May 5.
Przemysław Kral denied all accusations and insisted the exchange remains financially stable. He also dismissed the alleged Russia-related claims as “absurd.” The comments represent the company’s position while authorities continue their investigation.
Prime Minister Donald Tusk confirmed that the government intends to resubmit the crypto bill to parliament. According to Polish Radio, the updated proposal would primarily focus on stricter penalties targeting entities accused of exploiting investor trust, inexperience, or lack of financial knowledge.
Tusk stated that “the only change I will propose is even stricter penalties,” signaling a potentially more aggressive regulatory approach toward crypto-related misconduct. However, the final scope of the legislation will depend on the full draft once released.
Poland still behind on MiCA implementation
The political dispute has also left Poland lagging behind other European Union countries in implementing the EU’s Markets in Crypto-Assets Regulation framework, commonly known as MiCA. Earlier reports indicated Poland remained the only EU member state without complete domestic implementation after President Nawrocki vetoed previous crypto legislation.
Nawrocki previously argued that earlier drafts granted regulators excessive authority and could negatively impact smaller crypto firms. His office has maintained that he supports crypto regulation in principle but prefers a different regulatory structure.
Notably, Zondacrypto had also criticized earlier versions of Poland’s proposed crypto law. In September, CEO Przemysław Kral argued that the measures introduced “excessive restrictions” that could push crypto companies toward more favorable jurisdictions.
