Polish Parliament Fails to Overturn President's Veto on Cryptocurrency Regulation Bill

On September 4, the lower house of the Polish Parliament failed to overturn President Karol Nawrocki's veto of the cryptocurrency regulation bill. The voting results were 241 votes in favor of overturning the veto, 198 votes against, and 3 abstentions, falling short by 25 votes of the required 266. The bill aims to designate the Polish Financial Supervision Authority (KNF) as the regulatory body for the cryptocurrency market, having been vetoed by Nawrocki for the third time. The president believes the bill imposes excessive regulation on the industry, which could force Polish companies to relocate abroad; Prime Minister Donald Tusk cited investigations related to the now-defunct exchange Zondacrypto before the vote, urging lawmakers to support the bill.

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