Following two vetoes by President Karol Nawrocki, legislators in Poland finally passed a government-backed measure on Friday that would bring Poland’s cryptocurrency market in line with the EU’s Markets in Crypto-Assets Regulation (MiCA) framework.
Official parliamentary records indicate that the measure was enacted by a vote of 241-200 at Friday’s 57th session of the Sejm in Warsaw. Bill 2529, which has the support of the Ministry of Finance, grants the Polish Financial Supervision Authority (KNF) the authority to monitor market players, levy administrative fines, and temporarily freeze accounts and transactions.
Stride Amid Regulatory Uncertainty
After two vetoes by the president, MPs finally chose the state-backed approach out of three rival draft legislation, marking the third effort by the government to adopt a crypto statute. Legislators resumed their discussion of four separate cryptocurrency measures this week after Nawrocki vetoed two of their predecessors.
Records show that the most recent vote in parliament was predicated on a combined committee text that included government bill 2529 with opposing suggestions from the president (No. 2528), Confederation (No. 2530), and a parliamentary draft (No. 2363).
Media outlets in Poland reported that the opposition Law and Justice party (PiS) has also put forth a separate measure that would outright outlaw the use of any cryptocurrency in the country.
The most recent vote in the Sejm was met with scathing reactions from market players and crypto experts. Some are predicting that the president would veto the law once again, given that the important disagreements around supervisory powers and enforcement under KNF have persisted despite many legislative approvals.
Despite previous protests from the president, critics claim that the parts about banning accounts and domains have remained mostly untouched, and they point out that the final draft did not include suggested protections like tighter judicial control.
As Poland prepares to adopt the EU’s MiCA framework by the July deadline, they expressed concern that regulatory ambiguity might persist if the current impasse persists.