Poland's Parliament Fails to Override Veto on Digital Asset Regulation Bill

Poland's parliament has failed to override President Karol Nawrocki's veto of a bill regulating digital assets. The Digital Asset Market Act, which was intended to implement the European Union's Markets in Crypto-Assets regulation (MiCA), would have given the Polish Financial Supervision Authority (KNF) the power to oversee the digital-asset market and impose fines.

The lower house of parliament passed the bill again after Nawrocki vetoed it, but fell short of the 266 votes needed to overturn the decision. Of the 442 lawmakers present, 241 voted in favor of overriding the veto, while 198 voted against it and three abstained.

Nawrocki has argued that the government's proposal would overregulate the digital-asset industry and encourage Polish companies to move abroad. He believes that revisions are necessary to ensure a balanced approach to regulation.