The Polish Parliament (Sejm) has approved a bill aimed at aligning the country's crypto-market with the European Union's MiCA (Markets in Crypto-Assets) regulations. The document, which passed with 241 votes in favor and 200 against, follows two previous failed attempts rejected by President Karol Nawrocki. This was reported by Cointelegraph.com reporting .
Bill No. 2529, supported by the Ministry of Finance, grants the Polish Financial Supervision Authority (KNF) the power to oversee market participants, impose administrative sanctions, and temporarily block suspicious accounts and transactions. The document was selected from several alternative proposals, including those submitted by the president and opposition parties.
Market experts and members of the crypto-community have expressed concerns regarding certain provisions of the law, particularly the authority to block accounts without judicial oversight. Critics suggest the president might veto the bill again, as disagreements over the powers of regulatory bodies have not been fully resolved.
Legislative uncertainties are becoming a serious issue for Poland as the deadline for implementing the EU's MiCA regulation in July approaches. The situation has been further exacerbated by a fraud scandal surrounding the Zondacrypto platform and difficulties users face in withdrawing funds.
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