Poland Passes Controversial Crypto Law Amid Industry Backlash

Poland's newly enacted cryptocurrency legislation has sparked fierce criticism from industry leaders, who warn the rules could stifle innovation and drive businesses overseas. The law, positioned as an interpretation of the EU's MiCA framework, imposes stricter domestic measures including licensing requirements, fines up to 10 million PLN, and potential prison terms.

Zondacrypto CEO Przemysław Kral condemned the regulations as "a step backwards," arguing Poland's approach exceeds EU standards. "While regulation is necessary for consumer protection, it can be counterproductive," Kral stated. The exchange executive predicts significant harm to Poland's domestic crypto sector.

The legislation arrives as global crypto markets show renewed volatility, with traders closely watching regulatory developments. Poland's MOVE contrasts with more permissive regimes in crypto hubs like Switzerland and Singapore, potentially redirecting blockchain investment flows within Europe.