Techub News reports that, according to Cryptopolitan, Polish President Karol Nawrocki has once again vetoed the government's proposed Cryptocurrency Market Act. The bill aims to incorporate EU MiCA regulations into Polish domestic law but has been criticized for imposing stricter rules on local crypto businesses than those set by the EU. Controversies include granting the Polish Financial Supervision Authority (KNF) excessive oversight powers, such as the ability to suspend or prohibit the public issuance and trading of crypto assets, and to sanction non-compliant intermediaries; the bill also stipulates that token issuers or service providers who fail to notify the KNF will face criminal liability, with the most serious violations potentially resulting in fines of up to 10 million zloty (approximately $2.8 million). Previously, in December last year, the Polish president vetoed a similar crypto law with strict regulations.
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Techub News reports that, according to Cryptopolitan, Polish President Karol Nawrocki has once again vetoed the government's proposed Cryptocurrency Market Act. The bill aims to incorporate EU MiCA regulations into Polish domestic law but has been criticized for imposing stricter rules on local crypto businesses than those set by the EU. Controversies include granting the Polish Financial Supervision Authority (KNF) excessive oversight powers, such as the ability to suspend or prohibit the public issuance and trading of crypto assets, and to sanction non-compliant intermediaries; the bill also stipulates that token issuers or service providers who fail to notify the KNF will face criminal liability, with the most serious violations potentially resulting in fines of up to 10 million zloty (approximately $2.8 million). Previously, in December last year, the Polish president vetoed a similar crypto law with strict regulations.