Poland's President Vetos MiCA Bill, Cites Threats to 'Freedoms of Poles'
Poland's President Karol Nawrocki vetoed the MiCA-aligned bill, citing threats to freedom and concerns over government overreach.Summary
President Karol Nawrocki of Poland vetoed the nation's proposed Cryptoasset Market Act, which was intended to align with the EU's MiCA regulation. The President argued that the bill posed a "real threat to the freedom of Poles, their property and the stability of the state." Specifically, Nawrocki was concerned that the legislation would grant the government the power to disable crypto company websites "with a single click" due to a lack of transparent domain-blocking regulations. Furthermore, he noted the Polish bill was excessively long (over 100 pages compared to a dozen in neighboring countries) and its regulatory fees would unfairly favor large corporations over startups. Nawrocki suggested that such overregulation would drive crypto businesses out of Poland. As the veto is a significant tool in Poland's semi-presidential system, overturning it would require a three-fifths majority in the Sejm.
(Source：CoinDesk)