Lawmakers in the lower house of the Polish parliament, the Sejm, have passed a bill implementing the European Union Markets in Crypto Assets Regulation (MiCA), amid a probe into the collapse of Zondacrypto, the country’s largest cryptocurrency exchange.

 

The passage of the bill marks a third attempt after the president vetoed earlier versions proposed by lawmakers. Following the latest parliamentary approval, the bill now awaits the president’s decision before it can become law.

 

The Polish government has until July 1, 2026, the end of the transitional period, to implement the MiCA framework. If the deadline is missed, virtual asset service providers risk having their licenses expire. Without valid authorization, crypto firms in Poland would no longer be permitted to provide crypto asset services to clients in Poland or across the European Union.

 

As a result, affected companies may be forced to shut down their operations in Poland or relocate to another EU member state in order to obtain a crypto asset service provider license, which is generally more costly and time-consuming. This requirement applies primarily to domestic crypto entities, while foreign crypto companies operating in Poland are expected to remain unaffected by this policy.

 

Zondacrypto Collapse

The passage of the bill adopting MiCA comes as Polish prosecutors have launched an investigation into the collapse of Zondacrypto, the country’s largest cryptocurrency exchange.

 

Zondacrypto has halted withdrawals for thousands of users since December 2025, leaving many unable to access their funds. According to Polish authorities, about 30,000 users have been affected, with estimated losses exceeding 350 million zlotys ($95.93 million).

 

Amid Zondacrypto’s financial struggles and its admission that it lost access to a cold wallet holding about 4,500 BTC, allegedly linked to its former CEO, who has been missing since 2022, Polish Prime Minister Donald Tusk has alleged that the exchange’s collapse is linked to fraud and its existing ties with Russian mafia groups.

 

According to Tusk, Zondacrypto’s success comes from “Russian money linked to the so-called Bratva Mafia group and Russian intelligence agencies.” Describing its roots as sinister, Tusk accused Zondacrypto of sponsoring right-wing opposition politicians. By advancing the bill supporting MiCA, Tusk aims to reduce the ease with which cryptocurrencies are used to finance sabotage activities in the country.