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Poland to Reconsider Cryptocurrency Bill

Poland to Reconsider Cryptocurrency Bill

The cryptocurrency regulation bill has been resubmitted to the Polish Sejm after its previous version was rejected by President Karol Nawrocki.

The initiative to bring back the bill was led by the Poland 2050 party, part of the ruling coalition. Although the authors described the version as “improved,” government spokesman Adam Szłapka stated that “not a comma” had been changed in the text.

The bill essentially replicates the previous proposal. Its main aim is to empower the Financial Supervision Authority (KNF) as the primary regulator of the crypto-assets market in the country.

Criticism and Arguments

Polish politician Tomasz Mentzen criticized the initiative, calling it an example of excessive regulation. He compared the document to more concise laws in other EU countries, such as Hungary or Romania.

“The government has once again adopted the exact same crypto-assets bill,” wrote Mentzen.

He also mocked Prime Minister Tusk’s claims that the previous presidential veto was supposedly influenced by the “Russian mafia.”

The government hopes that this time Nawrocki will not block the law. According to Szłapka, after a secret briefing in parliament, the president gained a “full understanding” of the document’s impact on national security.

Economist Krzysztof Piech questioned the necessity of adopting a separate local law, given the impending implementation of MiCA regulations.

Back in September, Ukraine’s Verkhovna Rada approved in the first reading bill No. 10225-d “On Virtual Assets Markets,” which will define the status and taxation of cryptocurrencies in the country.

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