The Polish government is pushing ahead with the cryptocurrency law, as security concerns trump innovation
The Polish Sejm has once again voted on the “Crypto Asset Market” law, previously vetoed by President Karol Nawrocki. This time lawmakers hope it will be approved, as the government and security services support it, insisting it is in Poland’s national security interests.
On Thursday, the “Crypto Asset Market” bill successfully passed the lower house of the Sejm. A total of 241 deputies voted in favor, while 183 opposed it. The bill must now be voted on in the Senate and then sent again to the president for signature.
Media report that the current version passed by the Sejm is no different from the one vetoed by President Karol Nawrocki, who criticized it for being cumbersome, excessively regulated, and allowing authorities to block crypto-related websites.
However, according to an unnamed government representative, this time the bill is likely to be signed after a classified security briefing that provided the president with “full information” on its national security implications.
A choice between innovation and security
As previously reported, the president’s decision to veto the law caused dissatisfaction among Polish officials, including Finance Minister Andrzej Domański and Deputy Prime Minister Radosław Sikorski, who argued the need to protect investors.
Finance Minister Domański noted that around 20% of users currently lose funds due to abuse in the unregulated crypto market, while Sikorski was even more outspoken:
“When the bubble bursts and thousands of Poles lose their savings, at least they will know whom to thank,” he said, clearly referring to the president.
However, crypto supporters—including economist Krzysztof Pech—believe that the law will not change much, as security agencies already have tools to act against fraudulent crypto projects. At the same time, excessive regulation could negatively affect innovation and startups.
As we wrote, Spain moves to enforce MiCA as regulator sets firm compliance deadlines
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