Crypto Industry Watches As Poland Advances Long-Delayed Regulatory Bill

Poland’s prime minister has tied the country’s repeated failure to pass crypto rules to a high-profile fraud case — a charge that added urgency to a parliamentary vote that had already failed twice before.

Thousands of the exchange’s users reportedly could not access their funds, and Tusk alleged the platform had ties to Russian capital and influence dating to its early years.

He argued that Poland’s inability to finalize a regulatory framework had slowed any official response to the crisis.

The approved bill hands broad authority to Poland’s Financial Supervision Authority, known as the KNF, to monitor crypto market participants, impose administrative penalties, and block accounts and transactions when deemed necessary.

With those concerns unresolved, many observers expect the president to veto the bill again. That prospect worries industry players, since a third rejection would deepen regulatory uncertainty at a particularly inconvenient time.

Poland is required to bring its rules in line with the European Union’s Markets in Crypto-Assets Regulation, known as MiCA, with implementation deadlines approaching in July.

The vote came after lawmakers reviewed competing proposals from four separate sources: the government, the president, the Confederation party, and a parliamentary group. A committee merged the texts before the final vote, and the government version ultimately prevailed.

Featured image from Hotels.com, chart from TradingView