Poland's president vetoes crypto regulation bill for third time

Polish President Karol Nawrocki has vetoed a bill to regulate Bitcoin and other cryptoassets for the third time, saying lawmakers failed to address his earlier concerns and that the proposal would place undue burdens on the industry. The legislation was intended to align Poland with the EU's Markets in Crypto-Assets (MiCA) regime by creating a national licensing system for crypto firms overseen by Poland's financial regulator. Nawrocki and allied lawmakers argue Poland's implementation would go beyond what MiCA requires, increasing the risk that crypto businesses relocate to more crypto-friendly EU countries with lighter, simpler rules. The clash has become one of Europe's most significant crypto policy disputes. Prime Minister Donald Tusk's government maintains the law is necessary to strengthen consumer protection, curb money laundering, and ensure compliance with EU requirements. Opponents say the framework would dampen innovation and push investment abroad. The veto leaves Poland in a distinctive position ahead of the EU's July 1 deadline. While MiCA applies directly across the bloc, the absence of national implementing legislation means Poland still lacks a fully operational licensing framework, adding uncertainty for domestic crypto firms and potentially prompting companies to seek authorization elsewhere in the EU. This marks the third rejection in less than a year, extending the standoff between the president and the government over the future of Bitcoin and crypto regulation in Poland.