Polish President Karol Nawrocki has vetoed the Crypto Asset Market Act (MiCA) bill, expressing concerns that the law would grant the government authority to shut down crypto companies’ websites “with one click,” posing a serious threat to the freedoms of Polish citizens. The bill, introduced by the European Union to standardize and clarify regulations on cryptocurrencies and digital assets, aims to protect consumers, prevent fraud, and maintain financial stability. However, the extensive powers granted to the government under this law have raised fears in some countries that it could limit freedom of expression and the autonomy of private businesses. Cryptocurrency adoption is growing in Poland, with many startups and financial institutions active in the sector. While MiCA seeks to regulate these entities and safeguard users, the president’s opposition complicates the bill’s approval. Following the veto, it is expected that the Polish government will reconsider the legislation to balance the protection of freedoms with effective crypto market oversight, highlighting the delicate challenge of regulating cryptocurrencies while respecting user rights and financial stability.
Source: coindesk
