The Polish president has once again vetoed the cryptocurrency bill, leaving the industry facing regulatory uncertainty

Polish President Karol Nawrocki has once again vetoed a cryptocurrency bill aimed at incorporating the EU MiCA regulations into domestic law. The bill has been criticized for granting excessive powers to the Polish Financial Supervision Authority (KNF), including the ability to suspend cryptocurrency trading and impose fines of up to 10 million zlotys (approximately 2.8 million USD) for violations.

The KNF has warned that if the bill fails to pass before July 1, all domestic crypto platforms will face the risk of operating illegally. Industry representatives are concerned that under the current version, Polish crypto companies may be forced to relocate to more regulatory-friendly European regions such as the Baltic states. Currently, Prime Minister Tusk's government lacks the three-fifths majority in parliament needed to overturn the presidential veto.