#PolandCrypto
🇵🇱 Poland remains without crypto regulation: President's veto not overcome
The Polish Sejm failed to obtain the necessary number of votes (3/5) to override President Karol Nawrocki's veto on the draft law on cryptocurrency regulation. This decision jeopardizes the rapid adaptation of Polish law to the pan-European MiCA norms.
🔍 What happened?
• Voting results: Only 243 deputies voted to overcome the veto, out of the 276 needed.
• Reason for the veto: President Nawrocki considers the document "excessive and repressive." According to him, the updated version of the bill was almost the same as the previous one, which he had already rejected earlier.
• Stumbling block: The President criticizes the excessively broad powers that the financial regulator (KNF) was to receive.
🛡️ What did the bill propose?
The document was supposed to provide the Financial Supervision Authority (KNF) with strict control tools:
1. Blocking of trades: The ability to suspend trading in certain assets.
2. Bans: The right to completely ban public offerings of crypto assets.
3. Sanctions: Severe fines and market supervision.
📉 Market implications
Supporters of the law emphasize the need to protect investors, but the crypto community and the president see it as a threat to the development of innovation.
