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Hassan Shittu
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Poland’s lower house of parliament has again approved a contentious cryptocurrency bill, reviving a regulatory push that President Karol Nawrocki blocked only weeks ago
They are setting the stage for another confrontation over how tightly the country should police its digital asset market.
In a vote held on Thursday, the Sejm passed the Crypto-Asset Market Act with 241 lawmakers in favor, 183 against, and one abstention.
The bill, which had previously been vetoed by Nawrocki, was forwarded to the Senate on Friday for further consideration.
Reintroduced Without Changes, Poland’s Crypto Bill Tests Presidential Limits
Lawmakers reintroduced the legislation without changes, despite the president’s earlier objections that it threatened civil liberties, property rights, and legal certainty.
The bill is designed to bring Poland’s crypto rules in line with the European Union’s Markets in Crypto-Assets Regulation, known as MiCA, which all member states must implement by July 2026.
Poland remains the only EU country that has not yet adopted a national framework to accompany the bloc-wide rules, a gap the government says has left the domestic market exposed to abuse and foreign interference.
The renewed vote follows weeks of political tension, as in December, Nawrocki vetoed the same legislation after it cleared both chambers of parliament.
They argued that it went beyond EU requirements and granted authorities overly broad powers, including the ability to block crypto-related websites through administrative orders.
At the time, lawmakers failed to secure the three-fifths majority needed to override his decision, forcing the government to restart the legislative process.
Poland’ Bill Tightens Grip on Crypto Firms
The legislation would place crypto-asset service providers under the supervision of the Polish Financial Supervision Authority, or KNF.
Exchanges, custodians, and issuers would be required to obtain licenses, meet capital and compliance standards, and adhere to anti-money laundering rules.
The KNF would gain the power to impose fines of up to 10 million zlotys and, in serious cases, pursue prison sentences of up to five years.
Critics across the political spectrum and within the crypto industry have warned that the framework is among the most restrictive in the EU.
Opposition lawmakers have pointed to the KNF’s average licensing timeline of around 30 months, the longest in the bloc, and argued that the rules could push firms to relocate to jurisdictions with lighter implementations of MiCA.
Poland’s President Faces Defining Choice on Contested Crypto Rules
Industry figures have said the bill risks disrupting a market estimated to serve about three million users in Poland.
Nawrocki, who took office in June after narrowly winning the presidency with 50.89% of the vote, previously aligned himself with industry concerns during the campaign.
In a May post on X, he pledged that “no oppressive laws” would be imposed on the digital asset sector, saying Poland needed innovation rather than excessive regulation.
His office has since indicated openness to regulation in principle, provided it does not exceed EU standards. The government now suggests the standoff may be nearing its end.
A spokesperson said the president recently received a classified security briefing that gave him “full knowledge” of the bill’s implications, raising expectations in Warsaw that he may sign the law if it reaches his desk again.
If the Senate approves the measure without amendments, it will return to Nawrocki for a final decision.
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