Polish President Karol Nawrocki Vetoes Cryptocurrency Regulation Bill for the Third Time
Polish President Karol Nawrocki has vetoed a bill aimed at regulating the cryptocurrency industry for the third time.
The bill was passed by parliament in May this year and aimed to implement the EU's MiCA regulation. Nawrocki had previously vetoed similar bills twice, stating that the government ignored most of the amendments proposed by his office. He supports effective regulation and consumer protection.
In market dynamics, participants in the crypto industry push for loose regulations to avoid business outflow, with funds moving from local Polish platforms to more favorable jurisdictions. Early compliance preparers benefit while local exchanges relying on strict licensing face pressure.
Source: Public Information
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Karol Nawrocki, as the President of Poland, has previously vetoed similar crypto bills twice, using his veto power multiple times in the power struggle with Prime Minister Donald Tusk, including blocking several government legislations and pushing for versions that focus more on innovation and consumer protection.
On the capital front, Poland's conservative forces mobilize political resources through the presidential office to block strict localization of MiCA, motivated by the desire to prevent high fees and website blocking measures from driving local crypto businesses away, while maintaining industry flexibility for right-wing supporters to attract investment inflows.
Similar cases include EU member states like Hungary adopting simplified rules to attract crypto businesses during MiCA implementation, while Poland is currently in a phase of political resistance to the EU's unified crypto regulation process.
Essentially, this reflects regulatory change: under the checks and balances between the president and the government, political disagreements delay the implementation of strict regulations through repeated vetoes, forcing capital to reallocate towards lower-regulation environments and accelerating the migration or restructuring of local crypto businesses.
ABAB News · Cognitive Law
Regulation is not a one-time legislation but a persistent battleground of power games.
Strict rules protect consumers while driving businesses to neighboring countries.
The veto power is not the end but a switch for the direction of capital flow.