Polish government urges president to sign virtual assets bill

The Polish government urged President Karol Nawrocki to sign the virtual assets (cryptocurrencies) bill.

On the 13th (local time), according to Coinpaper, a virtual assets (cryptocurrencies) specialized media outlet, the Polish cabinet recently reapproved the virtual assets bill and requested the president's signature for the bill's passage.

Earlier in early December, President Nawrocki expressed concerns about the scope of the bill and its impact on market participants and exercised a veto on the virtual assets bill passed by parliament. As a result, Poland's virtual assets bill, although passed by parliament, has not yet come into force.

This request for signature was resubmitted without special amendments to the bill, and it was made a few days after the president had exercised a veto on the bill.

Parliament argued, "This bill is an essential measure to establish regulations consistent with the European Union (EU)'s virtual assets market regulatory framework, MiCA," and "Without this bill, Poland risks falling behind other EU countries, and the absence of clear regulation could highlight vulnerabilities in the supervision of virtual assets."

Finally, Parliament added concerns that a regulatory gap could expose the financial system to abuse and illegal activities and urged the president to sign.