Poland’s President Vetoes Crypto Market Bill Due To ‘Overregulation’ Concerns

The President of Poland has vetoed a controversial invoice that aimed to set strict guidelines on the crypto belongings market, following a number of issues of a startup exodus, “overregulation” of the sector, and stifling market innovation.

Poland’s President Vetoes Divisive Crypto Bill

On Monday, Poland’s President Karol Nawrocki refused to signal a crypto market laws over issues that it may pose an actual menace to the freedoms of Poles, the steadiness of the state, and market innovation.

In an official statement, the president’s workplace introduced Nawrocki’s resolution to veto the Crypto-Asset Market Act, launched in June, to stop “overregulation” and abuse of the “authorized mess” proposed by the Polish authorities.

As reported by Bitcoinist, Poland’s crypto neighborhood beforehand raised issues in regards to the laws in September, noting that the invoice exceeded the European Union (EU)’s minimal regulatory necessities and will drive small companies and startups overseas.

Notably, the invoice’s textual content required all Crypto Asset Service Providers to acquire a license from the Polish Financial Supervision Authority (KNF) to function out there. It additionally proposed heavy fines and potential jail time for individuals who breached the regulation.

Rafal Leśkiewicz, Press Secretary of the President, listed on X three major causes for Nawrocki’s resolution to reject the invoice. He asserted that the laws dangers energy abuse and overreach, as some provisions permit the federal government to close down web sites of firms providing crypto companies “with a single click on.”

“This is unacceptable. Most European Union nations use a easy checklist of warnings that protects shoppers with out blocking whole web sites,” he famous.

In addition, the regulation’s dimension and lack of transparency risked overregulation, noting that nations just like the Czech Republic, Slovakia, and Hungary carried out concise and complete frameworks. Meanwhile, Poland’s textual content surpasses the one-hundred-page mark.

He argued that “Overregulation is a straight path to driving firms overseas—to the Czech Republic, Lithuania, or Malta—as a substitute of making situations for them to earn cash and pay taxes in Poland.”

Lastly, the Press Secretary listed the quantity of supervisory charges as a problem, affirming that the government set them at a stage that will have prevented small companies and startups from growing, favoring overseas companies and banks. To him, “it is a reversal of logic, killing the aggressive market and posing a severe menace to innovation.”

Community Praises The ‘Necessary Decision’

Leśkiewicz emphasised that regulation is critical, however added that it should oversee the market in a means that’s “affordable, proportionate, and secure” for customers, quite than overreaching and probably harming the Polish economic system.

“The authorities had two years to organize a invoice in keeping with the European MiCA regulation on the crypto-asset market within the European Union. Instead, it produced a authorized mess that hurts Poles and Polish firms,” he asserted. “The resolution to veto was obligatory and was made responsibly. The president will defend the financial safety of Poles.”

Polish economist Krzysztof Piech praised the president’s resolution to veto the crypto invoice, affirming that it was “a really unhealthy regulation” that “violated the Polish Constitution and was opposite to the EU regulation it was presupposed to implement in Poland.”

Piech additionally refuted claims that Poland will become a “paradise” for criminals and fraudsters, who will “be grateful” to President Nawrocki for “a crypto market with out state supervision.”

The economist asserted that the federal government’s model of the invoice “didn’t present for any help to victims of fraudsters,” adding that, “as of July 1, 2026, the whole Polish market can be regulated and supervised — even with none laws. After all, we’re within the EU.”