Polish President vetoes the "Crypto Asset Market Act," stating that excessive regulation will drive crypto businesses to other countries
ChainCatcher news, according to Cointelegraph, Polish President Karol Nawrocki has vetoed the strictly regulated "Crypto Asset Market Act," sparking praise from the crypto community and strong criticism from the government.
The presidential office stated that the bill's provisions "truly threaten the freedom, property, and national stability of Polish people." The main reasons for the veto include: the clause allowing authorities to easily block crypto websites poses a risk of abuse; the bill is overly complex, leading to excessive regulation; and excessively high regulatory fees may hinder the development of startups, benefiting foreign companies and banks. The president warned that overregulation would drive businesses to operate and pay taxes in countries like the Czech Republic, Lithuania, or Malta, rather than in Poland.
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