Crypto
Poland crypto bill blocked after third presidential veto
Poland's lower house of parliament, the Sejm, fell 25 votes short of the 266 required to override President Karol Nawrocki's third veto of a domestic crypto
Key takeaways
- Poland's Sejm failed to override President Karol Nawrocki's third veto of a crypto regulation bill, falling 25 votes short of the required three-fifths majority.
- The vetoed bill would have designated the KNF as Poland's crypto regulator to support the implementation of the EU's MiCA rules.
- President Nawrocki vetoed the bill because he believes it is too restrictive, addresses only one of his office's 16 proposed changes, and could drive crypto firms to other jurisdictions.
- Prime Minister Donald Tusk read witness testimony alleging former Justice Minister Zbigniew Ziobro was promised PLN 2 million to stop an investigation into the defunct Zondacrypto exchange.
- President Nawrocki rejected claims connecting him to Zondacrypto, stating he has never met its CEO or representatives.
Poland's lower house of parliament, the Sejm, fell 25 votes short of the 266 required to override President Karol Nawrocki's third veto of a domestic crypto regulation bill. The vote on Sept. 4 ended with 241 lawmakers in favor of the override and 198 opposed. The bill would have designated the Polish Financial Supervision Authority (KNF) as the country's crypto regulator to implement the EU's MiCA framework. President Nawrocki argued the bill is too restrictive and would place excessive burdens on Polish crypto firms. During the debate, Prime Minister Donald Tusk urged lawmakers to support the bill, citing witness testimony from an investigation into the defunct Zondacrypto exchange that implicated former Justice Minister Zbigniew Ziobro.
The veto defeat prolongs Poland's domestic regulatory dispute and delays its implementation of EU MiCA rules.
In their words
“Bad law does not become good law simply because it is passed a hundred times”
By the numbers
- 241
- Lawmakers voting to override the presidential veto
- 266
- Votes required to override the presidential veto
- PLN 2M
- Alleged compensation intended for Zbigniew Ziobro
- 244
- Crypto service provider licenses issued shortly before deadline
- $75M
- Maximum fundraising limit under SEC proposal exemption
How it unfolded
- President Nawrocki rejects first Crypto-Asset Market Act
- Nawrocki issues second veto on crypto bill
- Government-backed crypto legislation passes Sejm
- Sejm fails to override Nawrocki's third veto
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Common questions
- What happened with Poland's Sejm?
- Poland's Sejm failed to override President Karol Nawrocki's third veto of a crypto regulation bill, falling 25 votes short of the required three-fifths majority.
- Where can I read the original report?
- Read the full report at Crypto News.
