Poland is moving back into the crypto spotlight after fresh allegations involving Zondacrypto have renewed pressure on Warsaw to tighten rules for digital-asset platforms.
What happened
Polish prosecutors opened an investigation on April 17 into possible fraud and money laundering tied to Zondacrypto, following user complaints about blocked withdrawals and alleged investor losses. Authorities are also reportedly probing possible links to Russian actors and organized crime, though the investigation remains active and unresolved.
Scale of the alleged losses
By May 5, Polish authorities estimated investor losses at a minimum of 350 million złoty—about $97 million—according to CoinGeek. Zondacrypto’s CEO, Przemysław Kral, has denied the allegations, insisting the exchange is financially stable and calling the Russia-related claim “absurd.” That denial represents the company’s position while the inquiry continues.
Political fallout and tougher rules ahead
Prime Minister Donald Tusk said the government will resubmit a crypto-assets bill to parliament, this time with stiffer penalties aimed at those who exploit investors’ trust, limited knowledge or hopes. “The only change I will propose is even stricter penalties,” Tusk said, signaling a harder enforcement posture; the full draft will determine how far the new rules go.
A stalled EU-alignment and industry pushback
The political tug-of-war has left Poland trailing other EU countries on MiCA (Markets in Crypto-Assets) implementation—Poland remains the only EU member without full domestic implementation after earlier crypto legislation was blocked. Karol Nawrocki, who opposed the prior bills, argued they gave regulators excessive power and risked harming smaller firms. His office says the president is not against regulation per se but favors a different model.
Zondacrypto itself previously criticized Poland’s earlier proposal: in September, Kral warned the draft imposed “excessive restrictions” that could drive companies to friendlier jurisdictions.
What’s next
The government plans to push the revised bill back to parliament, while prosecutors continue their probe into Zondacrypto. The outcome of both the legal investigation and the new legislation will shape Poland’s crypto landscape—and whether the country can catch up with EU-wide regulatory momentum.
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