Polish President once again vetoes controversial cryptocurrency bill

PANews reported on February 14th that, according to Cryptopolitan, Polish President Karol Nawrocki has again vetoed the government's proposed "Crypto Asset Markets Act." This bill aimed to incorporate the EU's "Crypto Asset Markets Regulation Act" into Polish domestic law, but has been criticized for imposing stricter regulations on local crypto companies than EU standards. The main points of contention include granting the Polish Financial Supervisory Authority (KNF) excessive supervisory powers, such as the power to suspend or prohibit the public offering and trading of crypto assets, and sanctions against intermediaries that violate regulations. The bill also stipulates that failure to report token issuances or service offerings to the KNF will result in criminal liability, with the most serious violations punishable by fines of up to 10 million złoty (approximately $2.8 million).

In December of last year, it was reported that the Polish president vetoed a bill that would impose strict regulations on the cryptocurrency market .