Poland’s Parliament Approves Strict Crypto Regulation Bill
- The Sejm voted in favor of the Crypto-Asset Market Act, with a tally of 230 votes for and 196 against.
- The bill introduces a licensing regime for crypto asset service providers (CASPs), aligning with the EU’s Markets in Crypto-Assets Regulation (MiCA).
- Violations may incur fines up to PLN 10 million ($2.8 million) and prison terms of up to two years.
- All CASPs must obtain a license from the Komisja Nadzoru Finansowego (KNF) within six months after the law is enacted.
- Critics argue that the law could harm Poland’s crypto market, affecting approximately three million crypto holders.
The approval of this legislation marks a significant regulatory shift in Poland’s approach to cryptocurrency, imposing strict compliance measures on CASPs and potentially limiting innovation in the sector.
With fines reaching PLN 10 million and potential jail time, the new regulations have raised concerns about their impact on Poland’s crypto landscape. (Source)
