Polish President Vetoes Cryptocurrency Market Bill Again, Criticizes Overly Stringent Regulations

Techub News reported, according to Cryptopolitan, Polish President Karol Nawrocki has vetoed the government-submitted "Cryptocurrency Market Act" again. The bill aims to incorporate the EU's MiCA regulations into Polish domestic law but is accused of imposing stricter rules on local crypto businesses than EU standards. Points of contention include granting excessive supervisory powers to the Polish Financial Supervision Authority (KNF), such as the ability to suspend or prohibit public offerings and trading of crypto assets, and to impose sanctions on non-compliant intermediaries; the bill also stipulates that token offerings or service provisions not reported to the KNF will bear criminal liability, with the most severe violations subject to fines of up to 10 million zloty (approximately $2.8 million). Previously, in December last year, the Polish President had already vetoed a similarly strict crypto regulatory bill.