Quick Takeaways
- Poland’s Sejm passed the Crypto-Assets Market Act after a prior veto.
- The bill aligns national law with the EU’s MiCA framework.
- Critics warn that the unchanged text could hurt Poland’s crypto market.
Poland’s lower house has approved a revived cryptocurrency regulation bill. The vote moves the country closer to adopting EU-wide crypto rules.
Lawmakers clear the bill despite early presidential opposition. The legislation is now maneuvering to the Senate for further review.
Sejm Passes Previously Vetoed Crypto Legislation
On Thursday, Poland’s Sejm sanctioned the Crypto-Assets Market Act. Lawmakers voted 241 in favor and 183 against the bill. The same bill had been forbidden by President Karol Nawrocki in December.
Despite the veto, the politicians reintroduced the lawmaking unchanged. One lawmaker said the Federal Reserve note returned with “not even a comma” altered. The vote sends the bill to Poland’s upper house, the Senate.
If approved there, it could return to the chair’s desk. The move signal renewed urgency to regulate digital assets. Poland faces a deadline to adjust to EU crypto standards. Member states must transition to the MiCA framework by July 2026.
MiCA Alignment Drives Legislative Push
The Crypto-Assets Market Act aims to implement the EU’s MiCA regulation. MiCA creates a unified regulatory framework across the European Union. It sets rules for stablecoins, exchanges, and crypto service providers.
Supporters say alignment will bring clarity and legal certainty. They argue harmonized rules will protect consumers and markets. Government officials say the bill supports financial stability. They also frame it as necessary for national security.
A government spokesperson said the president received a classified briefing. The briefing reportedly explained the bill’s security implications. Officials now expect the law to receive presidential approval. That expectation marks a shift from December’s veto.
The administration believes concerns raised earlier have been addressed. However, critics dispute that claim.
Industry Pushback and Political Tensions
The bill has faced strong opposition from crypto advocates. Industry groups warn the law could restrict innovation. They argue the rules may drive businesses abroad. Some lawmakers fear higher compliance costs for startups.
Others say the bill risks overregulation. President Nawrocki previously echoed those concerns. In December, he said the law threatened freedoms and property rights. He also warned about risks to state stability.
Before his election, Nawrocki openly supported the crypto sector. During the campaign, he promised no “oppressive laws.” In a May post on X, he said Poland needs innovation. He added that regulation should not stifle growth.
That stance won praise from digital asset supporters. The revived bill has reignited questions about his position. Observers now await whether he will sign the law. The decision could define Poland’s crypto policy direction.
What Comes Next for Poland’s Crypto Market
The Senate will now debate the bill. Lawmakers may propose amendments or approve it as-is. If unchanged, the bill returns to the president. A signature would make it law.
That outcome would place Poland firmly under MiCA rules. Exchanges and service providers would need to comply. Licensing, reporting, and capital requirements would increase.
Some firms have already begun preparing. Binance recently updated its rules in Poland. The exchange cited upcoming MiCA compliance.
Supporters say clear rules attract institutional investors. They believe regulation boosts trust and market maturity. Critics remain skeptical. They fear innovation may slow under stricter oversight.
They also warn that users could face reduced access. The outcome may shape Poland’s role in Europe’s crypto economy. For now, the revived bill signals momentum.
Poland appears determined to meet EU deadlines. The Senate’s decision will determine the final path forward.