Summary
- Poland’s parliament has passed a cryptocurrency regulation bill to implement the EU’s Markets in Crypto-Assets (MiCA) framework.
- The bill would apply MiCA rules to Poland’s crypto industry, and the related regulations must be adopted by July.
- The possibility of a veto by President Karol Nawrocki and the Zondacrypto case were key variables in the legislative process.
Forecast Trend Report by Period
Poland’s parliament has passed a bill to implement the European Union’s Markets in Crypto-Assets, or MiCA, framework, as pressure for tighter oversight grows amid a major fraud investigation tied to local crypto exchange Zondacrypto.
Reuters reported on May 15 that the lower house of parliament approved the government’s cryptocurrency regulation bill. The legislation would apply the EU’s MiCA regime to Poland’s crypto industry. Poland must adopt the related rules by July.
A potential presidential veto remains a variable. President Karol Nawrocki has previously blocked the bill twice, arguing that the government’s proposal would place an excessive burden on crypto companies.
The Zondacrypto case had the biggest influence on the legislative process. Polish prosecutors are investigating fraud allegations involving the exchange. User losses are estimated at more than 350 million zloty, or about $95.9 million.
Prime Minister Donald Tusk also raised the possibility of Russian funding being linked to the case. At a recent cabinet meeting, he alleged that the Russian mafia and its money were involved in the establishment of the Zondacrypto exchange. He did not provide specific evidence.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
