Poland passes crypto bill as Zondacrypto probe widens

Poland passes crypto bill as Zondacrypto probe widens
Rivanshi Rakhrai
15 May 2026, 10:56 AM

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Coinbase (COIN)

Buy COIN. Poland adopting MiCA-style rules after a major exchange fraud increases demand for regulated, compliant custody/trading rails across Europe. As enforcement tightens, users and institutions shift from risky venues to licensed platforms, which is COIN’s core advantage.

Key Risk: A new wave of EU/Poland delays or exemptions that slow MiCA implementation and keep volumes concentrated in unregulated venues.

Ledger (LDGR)

Buy LDGR. MiCA implementation plus the Zondacrypto fraud pushes retail users toward self-custody and hardware wallets to avoid exchange counterparty risk. Poland’s urgency to meet the July deadline accelerates consumer adoption of safer storage.

Key Risk: A regulatory carve-out or consumer-protection backlash that restricts hardware wallet use or makes self-custody less attractive via new compliance requirements.

  • Poland passed EU-aligned crypto rules ahead of July implementation deadline.
  • Fraud probe into Zondacrypto involves alleged losses exceeding $95 million.
  • Prime Minister Donald Tusk linked exchange origins to alleged Russian money.

Polish lawmakers adopted a bill on Friday regulating cryptocurrencies, as scrutiny surrounding the collapse of the country’s largest crypto exchange intensified and political disagreements over oversight of the sector continued.

The legislation implements the European Union’s Markets in Crypto-Assets Regulation (MiCA), which Poland is required to approve by July.

The move comes as prosecutors continue investigating Zondacrypto, formerly one of Poland’s biggest cryptocurrency exchanges, over allegations of fraud and concerns raised by government officials regarding possible Russian influence.

Fraud investigation deepens around Zondacrypto

Polish prosecutors have launched a multi-million dollar fraud probe into Zondacrypto after thousands of users reportedly lost access to their funds.

According to prosecutors, customer losses total more than 350 million zlotys, equivalent to approximately $95.93 million.

The controversy has drawn national attention, with Prime Minister Donald Tusk raising concerns about the exchange’s origins and alleged foreign influence.

The government has also argued that the case extends beyond financial losses, pointing to the exchange’s previous sponsorship of events attended by politicians linked to Poland’s nationalist opposition.

Officials said these ties have raised broader concerns regarding possible foreign political interference.

Zondacrypto did not respond to a request for comment sent by email on Thursday.

Exchange leadership under scrutiny

The exchange’s founder, Sylwester Suszek, disappeared in 2022, according to reports cited by Polish media.

Media reports also stated that his successor, Przemyslaw Kral, is currently in Israel, where he holds citizenship.

The situation could complicate potential extradition proceedings.

The allegations surrounding Zondacrypto have increased pressure on the Polish government to move ahead with implementing European crypto regulations.

Political divisions over crypto oversight

The Polish government has already attempted twice to pass legislation implementing MiCA rules, but the measures were vetoed by President Karol Nawrocki, who is backed by Poland’s nationalist opposition.

Nawrocki argued that the proposed rules would place excessive burdens on cryptocurrency firms and potentially drive businesses out of the country.

The president later submitted his own version of the legislation to parliament.

While broadly similar to the government’s proposal, it included lower penalties for regulatory violations.

The latest bill could still face resistance, as Nawrocki retains the authority to block the legislation again.

The dispute reflects wider disagreements within Poland over how aggressively the fast-growing cryptocurrency industry should be supervised.

July deadline adds urgency

Poland’s financial watchdog has warned that local entities may lose the ability to provide crypto-asset services if the country fails to implement MiCA regulations before the July deadline.

The government has argued that adopting the EU framework is necessary to maintain legal certainty for crypto firms operating in Poland and to strengthen oversight following the Zondacrypto collapse.

At the same time, the case has fuelled concerns within Warsaw over the potential use of cryptocurrencies in activities linked to Russian influence operations.

Polish authorities have previously stated that Russia uses cryptocurrencies to pay saboteurs operating in Poland.

Moscow has repeatedly denied responsibility for sabotage activities in Poland and elsewhere in Europe.