The lower house of the Polish parliament, the Sejm, approved a sweeping bill to regulate the crypto industry, reviving legislation previously vetoed by President Karol Nawrocki and sending it to the Senate for further debate.
The Cryptoasset Market Law, approved on Thursday by 241 Sejm lawmakers, remains unchanged from the version repealed earlier this month, the Sejm press office told CoinDesk.
“The bill was read by the members of parliament on Thursday and was voted and approved by them and sent to the Senate, where they will debate it and if they approve it it goes to the president, if not, if they reject it, it goes back to the Sejm,” a spokesperson explained.
The bill aims to align Polish law with the European Union’s Regulation of Cryptoasset Markets (MiCA). But critics, including Nawrocki and members of the Polish crypto industry, argue that it goes far beyond EU standards, giving the Polish Financial Supervisory Authority (KNF) broad enforcement powers, including blocking websites and multibillion-dollar fines.
Nawrocki’s office cited ambiguity, overreach and high enforcement costs as reasons for the initial veto, warning that the provisions could hurt smaller businesses and allow for “one-click” domain closures, an approach not taken by most EU countries. The size of the bill, more than 100 pages, also drew criticism for being excessive compared to simpler implementations seen elsewhere in the region.
Despite objections, Prime Minister Donald Tusk’s government reintroduced the law without revisions, presenting its passage as critical to national oversight of crypto markets. With the Senate set to review the legislation, the bill could face another showdown with the president, who retains the power to veto it once again.
