Poland's Crypto Regulation Efforts Hit Another Roadblock as Veto Override Fails
Poland's efforts to establish a comprehensive regulatory framework for crypto-assets suffered another setback after lawmakers failed to override President Nawrocki's veto on the Crypto-Asset Market Act.
The Sejm, Poland's parliament, needed 266 votes to override the veto but secured only 241, with 198 lawmakers voting against and three abstaining. The vote marks another failure for Poland in aligning its domestic supervision with the European Union's Markets in Crypto-Assets Regulation (MiCA).
President Nawrocki had vetoed the legislation in June due to concerns that it could place excessive regulatory burdens on the crypto industry. He argued that the bill could encourage Polish companies to move their operations to other jurisdictions.
The proposed framework aimed to give Poland's Financial Supervision Authority, KNF, a stronger role in supervising crypto-asset service providers. However, the failed override means the presidential veto remains in force, and the legislation cannot take effect in its current form.