PANews February 14 News, according to Cryptopolitan, Polish President Karol Nawrocki has once again vetoed the government’s proposed Cryptocurrency Market Act. The bill aims to incorporate the EU’s Crypto Asset Market Regulation into Polish domestic law but has been criticized for imposing stricter regulations on local crypto businesses than EU standards. Controversies include granting the Polish Financial Supervision Authority excessive oversight powers, such as the authority to suspend or prohibit the public issuance and trading of crypto assets, as well as to sanction non-compliant intermediaries. The bill also stipulates that token issuances or services not reported to the KNF will carry criminal liability, with the most serious violations potentially resulting in fines of up to 10 million zloty (approximately $2.8 million).
Earlier in December last year, the Polish president vetoed a bill that would have implemented strict regulations on the crypto asset market.
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