Poland Stalls Crypto Regulation Amid President's Veto

Poland's lower house of parliament failed to override President Karol Nawrocki's third veto of a crypto-asset bill on September 4, leaving the country without a domestic supervisory framework under the European Union's Markets in Crypto-Assets Regulation (MiCA).

The latest version of the legislation aimed to designate the Polish Financial Supervision Authority (KNF) as the country's crypto regulator and align domestic rules with MiCA.

However, the bill was vetoed by President Nawrocki, who has expressed concerns that it could impose excessive burdens on Polish crypto companies and encourage some firms to operate from other jurisdictions.

The president's office proposed a version of the legislation that his office said would offer stronger fraud safeguards without the same costs.