Poland stalls on crypto law, forcing local companies to move abroad

Poland’s parliament is in a deadlock over crypto and its inability to align local laws with MiCA may drive some local crypto companies abroad.

Poland’s parliament, the Sejm, has yet to pass a domestic enabling act for the EU’s regulations on cryptocurrencies. 

The parliament has again failed to override a presidential veto on a key crypto regulation bill. President Karol Nawrocki defended his veto, citing concerns over excessive regulation that could harm small businesses. Opponents state that the lack of framework makes the Polish market vulnerable to fraud and free-for-all for illicit actors. The political path forward is unclear.

Outside the political arena, the reality is that Poland is the only EU member state left to implement the bloc’s Markets in Crypto-Assets (MiCA) regulatory framework. The deadline for the transitionary period ends on July 1.

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