Polish lawmakers adopted a bill regulating cryptocurrencies on Friday, implementing the European Union's Markets in Crypto-Assets Regulation (MiCA) before a July deadline.
The move comes as the scandal surrounding Zondacrypto, the country's largest exchange, deepens. Thousands of users have been unable to access their funds, with losses estimated at over 350 million zlotys ($96 million).
Prosecutors have launched a fraud probe into the exchange. Prime Minister Donald Tusk has suggested Russian money is behind the firm, alleging "the Russian mafia" is involved-claims Moscow denies.
Zondacrypto's founder, Sylwester Suszek, disappeared in 2022. His successor, Przemyslaw Kral, is reportedly in Israel, complicating extradition efforts.
The bill had been vetoed twice by President Karol Nawrocki, who argued it would burden crypto firms. If the legislation fails again, Polish entities will lose the ability to offer crypto-asset services after July.