The Polish president vetoed a bill that would have imposed strict regulations on the cryptocurrency market.

PANews reported on December 2nd that, according to Cointelegraph, Polish President Karol Nawrocki refused to sign a bill imposing strict regulations on the cryptocurrency market, a move that won praise from the cryptocurrency community but drew sharp criticism from the government. According to a statement released by the presidential press office on Monday, Nawrocki vetoed Poland's "Cryptocurrency Markets Law," stating that its provisions "significantly threaten the freedom, property, and national stability of Poles." One of the main reasons for the veto was that the bill would allow authorities to easily block cryptocurrency market websites; the presidential office stated that "domain blocking laws are opaque and could lead to abuse." Furthermore, the bill was criticized for its length and complexity, reducing transparency and leading to "over-regulation," contrasting sharply with the simpler regulatory frameworks of countries like the Czech Republic. Nawrocki also emphasized that excessive regulatory costs would stifle startups and benefit foreign companies and banks.

The bill, introduced in June, drew criticism from industry insiders, including Polish politician Tomasz Mentzen, who anticipated the president would refuse to sign it after it received parliamentary approval. Cryptocurrency advocates viewed the rejection as a market victory, while several government officials condemned the move, saying the president had "chosen chaos" and must be held accountable for the outcome.