Poland’s president has vetoed a sweeping cryptocurrency bill over concerns that it would drive startups abroad, sparking a fierce political clash.
Polish President Karol Nawrocki has declined to sign a bill imposing strict regulations on the crypto asset market, drawing praise from the crypto community and sharp criticism from the government.
Nawrocki vetoed Poland’s Crypto-Asset Market Act, saying its provisions “genuinely threaten the freedoms of Poles, their property, and the stability of the state,” according to a statement by the president’s press office on Monday.
Introduced in June, the bill has drawn criticism from industry advocates such as Polish politician Tomasz Mentzen, who had anticipated the president’s refusal to sign it as it cleared parliamentary approval.
