PiS wants to ban cryptocurrencies in Poland? Donald Tusk responds

Poland’s ruling Law and Justice (PiS) party has proposed a bill to ban all activities related to cryptocurrency assets across the country, escalating a political dispute over the sector. The move follows the widening zondacrypto scandal, which has damaged PiS’s reputation, and comes after former PiS MP Janusz Kowalski pushed for a separate crypto bill. A group of 17 PiS MPs, including Mariusz Błaszczak and Jacek Sasinski, submitted the legislation, framing crypto operations as an ‘immediate threat to consumer safety and financial stability.’ The bill’s logic draws criticism for treating the entire crypto industry as inherently fraudulent, despite strict KYC and AML procedures enforced by most exchanges. Prime Minister Donald Tusk responded sharply on X, calling the proposal ‘stupid or drunk,’ signaling the government’s rejection of PiS’s radical stance. Investors and young entrepreneurs have voiced concerns, comparing the crackdown to overreach reminiscent of witch hunts, especially as global institutions like BlackRock invest in crypto assets such as BTC ETFs. The timing of the bill is ironic: on the same day, four PiS MPs withdrew support for an earlier crypto bill led by Kowalski, who recently left the party. Kowalski accused PiS of prioritizing funding for Donald Tusk’s re-election over young voters, who favor innovation. The contradiction highlights internal divisions within PiS, with some MPs aligning with opposition figures like Sławomir Mentzen and the Confederation party. Critics argue the bill’s broad scope could stifle Poland’s growing tech sector, while PiS insists anonymity in crypto transactions poses risks. The proposal contrasts with global trends, where regulated crypto markets thrive, and raises questions about Poland’s economic future. The debate reflects deeper tensions between traditional governance and emerging industries.