Poland's Crypto Oversight Bill Stalls Amid Presidential Veto

Poland's lower house of parliament failed to override President Karol Nawrocki's veto on legislation that would have created a national supervisory framework for the cryptoasset market. The bill, which had been rejected by the president three times, aimed to assign oversight of the sector to the Polish Financial Supervision Authority (KNF).

The Sejm voted 241 to 198 in favor of overriding the veto on Friday, but fell short of the required three-fifths majority needed for passage. The result means Poland remains without a designated regulator more than a year after the European Union's MiCA rules began applying.

Nawrocki has argued that the government's approach would impose excessive compliance costs on Polish companies and grant authorities overly broad powers, including the ability to block websites connected to crypto businesses. He supports regulation of the sector but believes the bill goes beyond what is necessary.