Polish President Vetoes Crypto Bill for Third Time, Delaying MiCA Adoption
Summary
- Poland’s president has exercised a third veto on a cryptocurrency regulation bill, delaying the country’s adoption of the EU’s Markets in Crypto-Assets (MiCA) framework.
- The Polish president said he supports crypto market regulation, but only one of the 16 key amendments he proposed was included, leaving the bill effectively unchanged from earlier versions.
- With the latest veto, Poland is now the only country yet to implement MiCA, and from July 1, Poland-based crypto companies without a MiCA license could lose the legal basis to offer services in the EU.
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Poland’s adoption of the European Union’s cryptocurrency rules has been delayed again.
Cointelegraph reported on June 12 that Polish President Karol Nawrocki vetoed a cryptocurrency regulation bill on June 11. The legislation would have incorporated the EU’s Markets in Crypto-Assets regulation, or MiCA, into Polish law.
Nawrocki said he supports regulating the crypto market, but the government adopted only one of 16 key amendments proposed by the presidential office. He added that the bill was effectively unchanged from the versions he had already vetoed twice.
The latest veto will further delay Poland’s entry into the MiCA framework. Cointelegraph said Poland is now the only EU member state that has not implemented MiCA. Starting July 1, Poland-based crypto companies without a MiCA license could lose the legal basis to provide services in the EU.
