Nawrocki Blocks Crypto Bill for Third Time Amid Ongoing Regulatory Dispute

The Polish government's efforts to regulate cryptocurrency have hit another roadblock as President Karol Nawrocki's third veto of the crypto bill was not overridden by the Sejm. Despite a vote of 241 to 198, lawmakers fell short of the required three-fifths majority needed to override the veto, with at least 266 votes necessary.

Nawrocki has expressed concerns that the proposed regulations would impose too much burden on cryptocurrency businesses and drive them offshore. He claims that only one out of 16 amendments suggested by his office was taken into account in the latest legislative round.

The bill aimed to put Poland's cryptocurrency market under KNF jurisdiction, aligning with the European Union's Markets in Crypto-Assets Regulation (MiCA). The failure to override the veto leaves the framework for implementing MiCA in Poland unclear due to ongoing political differences.