Polish Parliament Stalls on Crypto Law, Local Firms Look Abroad

Poland's parliament, the Sejm, has repeatedly failed to pass an enabling act for the EU's Markets in Crypto-Assets (MiCA) regulations, despite the transitional period deadline of July 1. President Andrzej Duda has vetoed the bill twice, citing concerns about excessive regulation that could harm small businesses. Critics argue the lack of a framework makes the Polish market vulnerable to fraud. Local enterprise groups, like the Warsaw Enterprise Institute, have criticized the proposed law for its excessive length, restrictive marketing bans, and the significant power granted to the notoriously slow Polish Financial Supervision Authority (KNF). The political deadlock has led some Polish crypto companies to consider relocating to other EU countries like Latvia or the Czech Republic, as the delay makes it difficult to remain competitive and comply with EU-wide regulations. The situation has become a broader political debate about the future of crypto in Poland.

(Source：Cointelegraph)