According to Mars Finance, as reported by Cointelegraph, Polish President Karol Nawrocki vetoed the regulatory strict “Crypto Assets Market Act”, which has drawn praise from the crypto assets community and strong criticism from the government. The presidential office stated that the provisions of the act “truly threaten the freedom, property, and national stability of the Polish people.” The main reasons for the veto include: the risk of abuse from provisions that allow authorities to easily block crypto assets websites; the complexity of the act leading to over-regulation; and excessively high regulatory costs that may hinder the development of startups, benefiting foreign companies and banks. The president warned that over-regulation would drive businesses to operate in the Czech Republic, Lithuania, or Malta, rather than paying taxes in Poland.
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