Poland reintroduces a bill on cryptocurrencies to comply with EU's MiCA regulations

The Polish government reintroduced the Cryptocurrency Asset Market Law on December 13th to align with the EU’s MiCA regulatory framework, after the previous bill was vetoed by President Karol Nawrocki. This bill remains unchanged from the original proposal, which was previously rejected due to a lack of information on security risks.

This move reflects Poland’s effort to harmonize regulations with the EU while addressing security concerns, especially those related to Russia and former Soviet countries. If passed, the law will tighten the operations of cryptocurrency service providers in Poland through licensing and mandatory oversight mechanisms.

The Polish Financial Supervision Authority (KNF) will be designated as the regulatory agency responsible for overseeing compliance and implementing the new requirements, including reserve regulations for stablecoins.