Economist Bogusław Grabowski said President Andrzej Duda should not have vetoed the cryptocurrency market regulation law on its first attempt [1].

The dispute highlights a tension between executive oversight and the urgent need for financial guardrails in a volatile digital asset market. Grabowski argues that the lack of regulation leaves citizens vulnerable to fraud and systemic instability.

Grabowski pointed to previous failures in Polish financial market regulation as the primary reason for his stance [1]. He specifically cited the ZondaCrypto case and historical issues regarding frank loans as evidence that the state has failed to protect investors [1]. Because of these precedents, he said the president's decision to veto the law during its first reading was unwarranted.

Legislators in the Sejm attempted to override the presidential veto during a session in Warsaw [2]. On April 17, 2024, the parliament voted on the legislation [2]. According to parliamentary records, 243 MPs participated in the vote [2].

During a discussion on TVN24, Grabowski addressed the legislative process. "Prezydent nie powinien za pierwszym razem tego wetować," Grabowski said [1].

The debate over the law centers on whether the current regulatory framework is sufficient to prevent the type of losses seen in previous financial scandals. Grabowski suggests that the executive branch's hesitation to approve the law on the first attempt delayed necessary protections for the cryptocurrency market.

“"Prezydent nie powinien za pierwszym razem tego wetować"”

The conflict reflects a broader struggle in Poland to modernize financial oversight in the face of emerging technologies. By citing the ZondaCrypto case, Grabowski suggests that the cost of regulatory delay is higher than the risk of imperfect legislation, signaling a push for the state to prioritize investor protection over legislative perfection.