- Poland’s President has, for the second time since December, vetoed laws supposed to align Poland with the EU’s MiCA crypto regulatory framework.
- President Nawrocki refused to signal the invoice that was handed by Polish lawmakers, saying it was “virtually an identical” to the sooner model of the invoice and was nonetheless prone to stifle innovation.
- Work is at the moment underway to arrange a 3rd, extra crypto-friendly model of the invoice, with hopes it’ll cross into regulation earlier than the July 1 MiCA deadline
The President of Poland, Karol Nawrocki, has vetoed a second invoice designed to align the European nation with the EU’s Markets in Crypto-Assets Framework (MiCA), having beforehand vetoed a really comparable invoice in December.
Nawrocki refused to signal Bill 2064 into regulation final week, in accordance with a statement launched by the President’s workplace on February 12, with the Polish President saying the invoice was “virtually an identical” to the earlier invoice he had refused to signal.
“I vetoed the cryptocurrency market regulation once more. For the second time, I acquired a challenge virtually an identical to the one I had already vetoed. One element has been modified, no basic errors have been eliminated,” he stated.
I can’t signal a foul regulation simply because it was voted once more by the parliamentary majority – a foul regulation voted even 100 occasions stays a foul regulation.
Nawrocki’s veto follows an announcement from Poland’s Monetary Supervision Authority (KNF) that the nation has but to nominate an authority to supervise the nation’s crypto market. Time is working out earlier than Europe transitions to the EU-wide MiCA regulatory regime on July 1, 2026.
Whereas the veto seems like a foul factor for the Polish crypto business, on nearer inspection, it’s most likely a internet optimistic. The explanation Nawrocki declined to signal the invoice into regulation isn’t opposition to crypto, however somewhat as a result of he believes the invoice takes a too heavy-handed strategy, which might restrict innovation.
Poland ought to appeal to innovation, not push it away.
Karol Nawrocki, President of Poland One other Polish politician and crypto supporter, Janusz Kowalski, additionally criticised the sooner model of the invoice, describing it for example of excessively advanced overregulation and suggesting it may hurt innovation.
Polish economist, Krzysztof Piech, posted on X / Twitter over the weekend that work on a brand new, pro-innovation model of the invoice is underway, with an preliminary draft already accomplished.
Associated: Polish Parliament Advances Strict Crypto Market Regulation Bill
Lack of Laws Driving Home Crypto Corporations Out of Poland
The dearth of crypto laws and clear regulatory oversight is creating one thing of an unlevel regulatory enjoying discipline in Poland. Native Polish crypto companies are at the moment left with no pathway to MiCA-compliant operation, whereas international corporations registered in different jurisdictions are capable of function compliantly inside Poland, resulting in fears many smaller Polish crypto companies could not survive.
Coinbase, for instance, just lately entered the Polish market after acquiring a MiCA license in Luxembourg in 2025, permitting it to function compliantly whereas native companies scramble for options because the July MiCA deadline approaches.
Associated: EU Urged to Back Euro Stablecoins to Challenge Dollar Dominance
Some Polish companies are looking for MiCA licenses from neighbouring jurisdictions with a extra mature crypto regulatory panorama, akin to Estonia, after which looking for to have their licenses recognised inside Poland with a purpose to provide services and products inside their dwelling nation.
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