Polish lawmakers fail to revive controversial crypto bill after presidential veto

Source: CryptoNewsNet Original Title: Polish lawmakers fail to revive controversial crypto bill after presidential veto Original Link:

Poland’s Parliament Fails to Override Presidential Veto on Crypto-Asset Market Act

Poland’s lower house of parliament failed to secure the required three-fifths majority to override President Karol Nawrocki’s veto of the Crypto-Asset Market Act, pushing the country further away from regulating its digital-asset sector at a moment when lawmakers argue that oversight is increasingly urgent.

The legislation — advanced by Prime Minister Donald Tusk’s government — was intended to align Poland with the European Union’s MiCA framework for crypto markets. The bill was introduced in June but did not survive the president’s veto.

Nawrocki blocked the measure, arguing it would “threaten the freedoms of Poles, their property, and the stability of the state.”

With the president’s veto upheld, the bill will not move forward, forcing the government to restart its crypto lawmaking process.

Divided Support and Industry Opposition

The proposal has sharply divided lawmakers and the crypto industry. Supporters framed the bill as a national security priority, saying that comprehensive rules are necessary to curb fraud and prevent potential misuse of crypto assets by foreign actors.

However, several crypto-industry groups opposed the legislation, warning that its requirements were overly burdensome and could drive startups out of the country. Critics pointed to stringent licensing rules, high compliance costs and criminal-liability provisions for service-provider executives, arguing that the bill risked stifling innovation and creating an uncompetitive business environment.

Crypto Adoption in Poland Accelerates Amid Regulatory Pause

Cryptocurrency use in Poland continues to accelerate even as the country stalls on comprehensive regulation. Poland has been identified as one of Europe’s “large crypto economies,” with the country’s onchain activity expanding significantly over the past year.

According to recent data, Poland recorded more than 50% year-over-year growth in overall transaction volume.

Polish investors are also increasing their exposure to Bitcoin (BTC), reflected in a surge in Bitcoin ATM installations in recent years. Poland has become the world’s fifth-largest Bitcoin ATM hub, surpassing even countries that have made Bitcoin a central element of their monetary and financial systems.