{"id":61599,"date":"2025-12-03T07:01:41","date_gmt":"2025-12-03T07:01:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=61599"},"modified":"2025-12-03T07:01:41","modified_gmt":"2025-12-03T07:01:41","slug":"polands-president-vetoes-crypto-market-bill-due-to-overregulation-concerns","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=61599","title":{"rendered":"Poland\u2019s President Vetoes Crypto Market Bill Due To \u2018Overregulation\u2019 Concerns"},"content":{"rendered":"
\n

The President of Poland has vetoed a controversial bill that aimed to set strict rules on the crypto assets market, following multiple concerns of a startup exodus, \u201coverregulation\u201d of the sector, and stifling market innovation.<\/p>\n

Poland\u2019s President Vetoes Divisive Crypto Bill<\/h2>\n

On Monday, Poland\u2019s President Karol Nawrocki refused to sign a crypto market legislation over concerns that it could pose a real threat to the freedoms of Poles, the stability of the state, and market innovation.<\/p>\n

In an official statement<\/a>, the president\u2019s office announced Nawrocki\u2019s decision to veto the Crypto-Asset Market Act, introduced in June, to prevent \u201coverregulation\u201d and abuse of the \u201clegal mess\u201d proposed by the Polish government.<\/p>\n

As reported<\/a> by Bitcoinist, Poland\u2019s crypto community previously raised concerns about the legislation in September, noting that the bill exceeded the European Union (EU)\u2019s minimum regulatory requirements and could drive small businesses and startups abroad.<\/p>\n

Notably, the bill\u2019s text required all Crypto Asset Service Providers to obtain a license from the Polish Financial Supervision Authority (KNF) to operate in the market. It also proposed heavy fines and potential prison time for participants who breached the law.<\/p>\n

Rafal Le\u015bkiewicz, Press Secretary of the President, listed on X three main reasons for Nawrocki\u2019s decision to reject the bill. He asserted<\/a> that the legislation risks power abuse and overreach, as some provisions allow the government to shut down websites of companies offering crypto services \u201cwith a single click.\u201d<\/p>\n

\u201cThis is unacceptable. Most European Union countries use a simple list of warnings that protects consumers without blocking entire websites,\u201d he noted.<\/p>\n

In addition, the regulation\u2019s size and lack of transparency risked overregulation, noting that countries like the Czech Republic, Slovakia, and Hungary implemented concise and comprehensive frameworks. Meanwhile, Poland\u2019s text surpasses the one-hundred-page mark.<\/p>\n

He argued that \u201cOverregulation is a straight path to driving companies abroad\u2014to the Czech Republic, Lithuania, or Malta\u2014instead of creating conditions for them to earn money and pay taxes in Poland.\u201d<\/p>\n

Lastly, the Press Secretary listed the amount of supervisory fees as an issue, affirming that the government<\/a> set them at a level that would have prevented small businesses and startups from developing, favoring foreign corporations and banks. To him, \u201cthis is a reversal of logic, killing the competitive market and posing a serious threat to innovation.\u201d<\/p>\n

Community Praises The \u2018Necessary Decision\u2019<\/h2>\n

Le\u015bkiewicz emphasized that regulation is necessary, but added that it must oversee the market in a way that\u2019s \u201creasonable, proportionate, and safe\u201d for users, rather than overreaching and potentially harming<\/a> the Polish economy.<\/p>\n

\u201cThe government had two years to prepare a bill in line with the European MiCA regulation on the crypto-asset market in the European Union. Instead, it produced a legal mess that hurts Poles and Polish companies,\u201d he asserted. \u201cThe decision to veto was necessary and was made responsibly. The president will defend the economic security of Poles.\u201d<\/p>\n

Polish economist Krzysztof Piech praised<\/a> the president\u2019s decision to veto the crypto bill, affirming that it was \u201ca very bad law\u201d that \u201cviolated the Polish Constitution and was contrary to the EU regulation it was supposed to implement in Poland.\u201d<\/p>\n

Piech also refuted claims that Poland will become<\/a> a \u201cparadise\u201d for criminals and fraudsters, who will \u201cbe grateful\u201d to President Nawrocki for \u201ca crypto market without state supervision.\u201d<\/p>\n

The economist asserted that the government\u2019s version of the bill \u201cdid not provide for any assistance to victims of fraudsters,\u201d adding<\/a> that, \u201cas of July 1, 2026, the entire Polish market will be regulated and supervised \u2014 even without any legislation. After all, we are in the EU.\u201d<\/p>\n

\"crypto,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The President of Poland has vetoed a controversial bill that aimed to set strict rules on the crypto assets market, following multiple concerns of a startup exodus, \u201coverregulation\u201d of the sector, and stifling market innovation. Poland\u2019s President Vetoes Divisive Crypto Bill On Monday, Poland\u2019s President Karol Nawrocki refused to sign a crypto market legislation over […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-61599","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/61599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61599"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/61599\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}