Poland's president vetoes crypto regulation bill for third time

Polish President Karol Nawrocki has vetoed a bill regulating Bitcoin and other crypto assets for the third time, saying lawmakers failed to address his earlier objections and that the proposal would place excessive burdens on the industry. The legislation was intended to implement the EU's Markets in Crypto-Assets (MiCA) regime and create a domestic licensing framework for crypto firms overseen by Poland's financial regulator. Nawrocki and allied lawmakers argue Poland's approach goes beyond what MiCA requires and could prompt crypto businesses to shift operations to more crypto-friendly EU countries with simpler rules. Prime Minister Donald Tusk's government says the law is needed to protect consumers, curb money laundering and align Poland with EU requirements. Critics counter it would chill innovation and push investment abroad. The latest veto leaves Poland in an unusual position ahead of the EU's July 1 deadline. MiCA applies directly across the bloc, but without national implementing legislation Poland still lacks a fully operational licensing system, adding uncertainty for domestic firms and potentially encouraging them to seek authorization in other EU jurisdictions. The bill's third rejection in less than a year extends the standoff between the presidency and the government over the future of Bitcoin and crypto regulation in Poland.