Polish crypto exchange probe over $96.1M loss escalates into political row

An investigation into the Polish cryptocurrency exchange Zondacrypto over alleged investor losses has escalated into a political conflict, Politico reported. Prosecutors are examining whether the exchange misled customers, potentially causing losses of around 350 million zloty ($96.1 million). Zondacrypto CEO Przemysław Kral has denied the allegations, stating that the company is operating normally. The case has become a point of contention between Polish Prime Minister Tusk and President Nawrocki. The government is pushing to implement Europe's Markets in Crypto-Assets (MiCA) regulation, while the president's camp opposes stricter rules. Prime Minister Tusk has highlighted the need for regulation by suggesting the exchange could have ties to Russian funds, a claim the opposition has dismissed as a political attack. As investor lawsuits mount, some politicians are now calling for an outright ban on cryptocurrencies.