Poland Sejm Debates Four Crypto Regulation Bills

Poland's lower house of parliament, the Sejm, began debating four competing bills on cryptocurrency regulation Tuesday, following President Karol Nawrocki's vetoes of prior legislation. The session marks a key step toward aligning the country's framework with the European Union's Markets in Crypto-Assets (MiCA) rules, amid a surprise proposal from the opposition Law and Justice party, or PiS, for a total ban on digital asset activities.

Sejm Speaker Włodzimierz Czarzasty confirmed the chamber would prioritize the four bills, submitted by the government, the president's office, the Poland 2050 party, and the Confederation party. Proceedings opened Tuesday, with a second reading scheduled for Thursday. The government and presidential proposals, spanning around 106 to 170 articles each, largely align on core requirements like licensing for crypto service providers, anti-money laundering measures, and consumer protections. Their main differences concern the Polish Financial Supervision Authority's, or KNF's, authority to freeze accounts suspected of illicit activity and the maximum fines for violations such as obstructing inspections. The Ministry of Finance draft sets penalties at...