Poland’s Sejm Approves Revised Crypto Regulation Bill
In a significant legislative move, Poland’s Sejm, the lower chamber of the national parliament, has approved a revised version of a bill that seeks to regulate the cryptocurrency sector, reviving a proposal that faced presidential veto just months earlier. On Thursday, lawmakers cast their votes, resulting in 241 in favor and 183 against the Crypto-Assets Market Act. This bill will now advance to the Senate for additional scrutiny.
Background and Presidential Veto
Originally vetoed by President Karol Nawrocki, who expressed concerns about potential risks to personal freedoms and state stability, this legislation has been introduced again with no amendments. The reformed bill aims to bring Polish crypto regulations in line with the European Union’s Markets in Crypto-Assets Regulation (MiCA) initiative, which mandates member states to adopt similar rules by July 2026. Despite its ominous reception from certain legislators and industry experts, who argue that it could undermine the domestic crypto environment, the government appears ready to move forward.
Legislative Journey
Historically, the first iteration of the bill managed to get through the Senate, but Nawrocki’s veto in December halted its progress due to his belief that it could significantly threaten the freedoms and properties of Polish citizens. Following this recent vote, the Polish Senate is tasked with evaluating the proposal, which, upon approval, could be sent back to the president for ratification once again. A government representative indicated a stronger likelihood for the bill to be enacted this time due to a classified security briefing that reportedly addressed the president’s concerns about national security implications.
Presidential Support for Crypto
Interestingly, President Nawrocki, who assumed office in August 2023, has previously positioned himself as a supporter of the crypto sector. During his campaign, he pledged to avoid overly stringent regulations in the digital asset space, asserting that
“Poland needs innovation, not regulation.”
He won his presidency with a narrow margin of 50.89% in the election, entitling him to a five-year tenure, with the opportunity to seek re-election in 2030.
Looking Ahead
Proponents of the recently passed legislation await its fate in the Senate, while the crypto community watches closely for how this pivotal moment could shape Poland’s approach to digital currencies.
