In a decisive move, Poland’s President Andrzej Duda has exercised a presidential veto to block a comprehensive cryptocurrency bill recently passed by the nation’s parliament. The proposed legislation, which aimed to establish a stringent regulatory framework for digital assets, was rejected on the grounds that its restrictive provisions could severely disadvantage local enterprises. President Duda publicly cautioned that the bill’s potential to stifle innovation and impose excessive compliance burdens might compel Polish crypto startups to relocate their operations to more favorable jurisdictions abroad.
This veto has ignited a significant political dispute between the presidential office and the government, highlighting a fundamental divergence in strategy for nurturing the country’s fintech sector. Proponents of the veto argue that Poland must avoid creating a hostile regulatory environment that could curb economic growth in the burgeoning digital asset space. The legislative process now returns to the drawing board, requiring lawmakers to reconsider the balance between implementing necessary oversight and fostering a competitive market for blockchain-based businesses within Poland. The outcome is being closely monitored by the European crypto industry as a signal of regulatory direction in the region.
