Poland president vetoes MiCA bill again as crypto companies look to license abroad

Polish President Andrzej Duda has once again vetoed a bill intended to integrate the European Union’s Markets in Crypto-Assets (MiCA) framework into national law. This marks the second time the executive has blocked the legislation, citing concerns over the broad oversight powers granted to the Polish Financial Supervision Authority (KNF) and potential constitutional inconsistencies. The recurring legislative deadlock has sparked significant concern within the domestic fintech sector. As the EU-wide deadline for MiCA implementation approaches at the end of 2024, crypto firms in Poland are reportedly seeking licenses in more regulatory-stable jurisdictions such as France, Malta, and Lithuania. Industry experts warn that the continued delay could lead to a drain of digital asset innovators, as companies prioritize regulatory certainty to maintain their access to the single European market.

Source: Poland president vetoes MiCA bill again as crypto companies look to license abroad