Poland's Crypto-Assets Market Act Passes Lower House Again

The Polish lower house of legislature, the Sejm, has passed a bill that could impose restrictions on the cryptocurrency market, following the country's president's veto of an earlier attempt. The Crypto-Assets Market Act, which aims to align Poland's regulations with the European Union's Markets in Crypto-Assets Regulation (MiCA) framework, was passed with 241 votes for and 183 against.

Background on the Crypto-Assets Market Act

The bill is intended to bring Poland's regulations in line with the EU's MiCA framework, which member states are expected to transition to by July 2026. The same version of the bill was previously passed by the lower house in September but received criticism from some lawmakers and industry advocates, who claimed it could threaten the country's crypto market and its users.

Presidential Veto and Reintroduction

The first attempt at passing the bill was vetoed by President Karol Nawrocki in December, who claimed that it would "genuinely threaten the freedoms of Poles, their property, and the stability of the state." Lawmakers reintroduced the bill without any changes last week, and it has now been sent to the Senate for further consideration.

Implications and Next Steps

The Senate is now set to review the bill, and if approved, it may end up once again on Nawrocki's desk. A government spokesperson reportedly said that the bill is likely to be signed into law this time, following a classified security briefing that provided the president with "full knowledge" of its implications for national security.

Poland's Crypto Regulatory Environment

Nawrocki, who assumed office in August, had previously campaigned against crypto regulations, saying that Poland needs innovation, not regulation. He narrowly won his election with 50.89% of the vote for a five-year term and is eligible to run for a second term in 2030.

Conclusion and Future Outlook

The passage of the Crypto-Assets Market Act by the lower house marks a significant development in Poland's crypto regulatory environment. As the bill moves to the Senate, it remains to be seen whether it will be approved and signed into law, and what implications this will have for the country's crypto market and users. The EU's MiCA framework is set to come into effect in July 2026, and Poland's regulatory approach will be closely watched by the crypto industry and investors.