Polish lower house re-passes crypto-asset bill vetoed by president…headed to Senate review

Minseung Kang

Summary

Poland's lower house re-passed without amendments the crypto-asset regulatory bill that had been defeated by a presidential veto.
The bill aligns domestic legislation with MiCA and grants the Financial Supervision Authority powers such as website blocking and heavy fines.
The bill still faces Senate review and resubmission to the president, with the possibility of another veto.

Poland's lower house has re-passed a crypto-asset regulatory bill that was previously blocked by the president's veto.

On the 19th (local time), according to crypto-focused media CoinDesk, the Polish lower house (Sejm) approved the Crypto-Asset Market Act with 241 votes in favor and sent it to the Senate. This bill re-passed without amendments the bill that Polish President Karol Nawrocki had vetoed earlier this month.

The law aims to align domestic legislation with the European Union's (EU) crypto-asset regulatory framework MiCA. However, it has drawn opposition from the president and the industry because it grants the Financial Supervision Authority (KNF) broad powers such as blocking websites and imposing heavy fines.

The government led by Prime Minister Donald Tusk re-submitted the bill without amendments, emphasizing strengthened oversight of the crypto-asset market. The bill will go through Senate review and then be sent again to the president, with the possibility of another veto remaining.