• Sejm Vote: Polish lawmakers passed the bill with 241 votes in favor and 183 against on Thursday.

• The legislation was reintroduced unchanged after President Karol Nawrocki’s December veto, citing threats to freedoms and stability.

• Expected Impact: Full MiCA compliance by 2026 could reshape Poland’s crypto market, with 15% of Poles holding digital assets according to recent surveys.

Discover how Poland’s Crypto-Assets Market Act aligns with MiCA, its veto history, and implications for crypto users. Stay informed on EU crypto regulations shaping the future of digital finance. Read more now.

What is Poland’s Crypto-Assets Market Act?

Poland’s Crypto-Assets Market Act is a legislative proposal designed to regulate the cryptocurrency sector in line with the European Union’s Markets in Crypto-Assets Regulation, known as MiCA. It establishes rules for crypto-asset service providers, trading platforms, and investor protections, mandating licensing and transparency measures. The bill, passed by the Sejm on Thursday with 241 votes for and 183 against, now heads to the Senate for review, marking a renewed effort after a presidential veto in December.

How Will MiCA Influence Poland’s Cryptocurrency Regulations?

The EU’s MiCA framework, effective across member states by July 2026, requires comprehensive oversight of crypto activities to mitigate risks like money laundering and market manipulation. In Poland, this translates to stricter licensing for exchanges and custodians, with non-compliant entities facing fines up to 5% of annual turnover, as outlined in MiCA guidelines. Experts from the European Banking Authority emphasize that such harmonization fosters stability, though Polish industry leaders warn of potential 20-30% reduction in trading volumes if overly burdensome. According to Sejm records, the bill’s unchanged reintroduction reflects strong governmental push for alignment, supported by data showing €2.5 billion in crypto transactions in Poland last year.

Progress of Poland’s Crypto-Asset Market Act. Source: Sejm

The act builds on MiCA’s core pillars, including stablecoin oversight and disclosure requirements for issuers. Financial analysts, drawing from reports by the Polish Financial Supervision Authority, note that while it protects consumers amid rising adoption— with over 4 million Poles engaging in crypto— it may stifle startups by increasing operational costs by 25%, based on similar implementations in neighboring EU countries like Germany and France.

President Nawrocki’s veto highlighted concerns over individual liberties, but a recent classified briefing reportedly addressed national security aspects, potentially paving the way for approval. Government officials, per statements from the Chancellery of the Prime Minister, view the bill as essential for integrating Poland into the EU’s unified digital asset ecosystem.

Frequently Asked Questions

What triggered the reintroduction of Poland’s Crypto-Assets Market Act?

The bill was reintroduced last week without modifications after President Karol Nawrocki vetoed it in December, arguing it endangered Polish freedoms, property rights, and state stability. The Sejm’s Thursday vote overrides potential opposition, sending it to the Senate amid expectations of presidential signing following security clarifications.

Why did President Nawrocki oppose cryptocurrency regulations in Poland?

During his presidential campaign, Karol Nawrocki positioned himself as a defender of the crypto industry, promising no oppressive laws and emphasizing innovation over regulation. In a public statement translated from Polish, he stated that Poland requires forward-thinking policies to nurture digital asset growth, reflecting his narrow election victory with 50.89% of votes in August.

Key Takeaways

• Regulatory Alignment: The act enforces MiCA standards, requiring crypto firms to obtain licenses and report transactions to prevent illicit activities.
• Veto Override Potential: Despite initial rejection, a security briefing may convince the president to sign, ensuring EU compliance by 2026.
• Market Impact: Users should prepare for enhanced KYC processes; industry experts recommend monitoring Senate proceedings for updates on trading freedoms.

Conclusion

Poland’s Crypto-Assets Market Act represents a pivotal step toward MiCA compliance, balancing cryptocurrency regulations with EU-wide standards to safeguard investors while addressing criticisms of restrictiveness. As the Senate reviews the bill, it underscores the evolving landscape of digital assets in Europe. Stakeholders in Poland’s vibrant crypto scene—home to significant trading activity—should stay vigilant, as these changes could define the sector’s trajectory through 2026 and beyond. For the latest developments, keep an eye on official legislative channels.