Polish lawmakers failed to overturn the country's president's veto of the cryptocurrency bill.

PANews reported on December 5th, citing Bloomberg, that Polish lawmakers failed to overturn a veto of a bill regulating digital assets, dealing a blow to Prime Minister Donald Tusk's efforts to regulate the industry. Tusk believes the industry has become a conduit for Russian insidious activities within EU countries. The lower house of parliament failed to obtain the three-fifths majority needed to overturn President Karol Nawrocki's veto. Before Friday's vote, Tusk stated that approving the legislation to implement EU standards for the crypto industry was a matter of national security. He told parliament that the bill gave Polish authorities "the tools to control a new market that is currently unregulated and in which Russian intelligence, the Russian mafia, and money laundering activities are active." He also stated that the local crypto industry has been infiltrated by "hundreds" of foreign entities, many from Russia and Belarus.

Earlier reports indicated that the Polish president vetoed a bill that would impose strict regulations on the cryptocurrency market.