Polish Sejm Falls Short Overriding Crypto Veto — SkimNews
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- Polish Sejm voted 241-198 on Friday to override President Karol Nawrocki's veto of crypto oversight legislation, falling 25 votes short of the 266 needed for a three-fifths majority.
- Karol Nawrocki has vetoed the same crypto bill three times, arguing it would overregulate the industry through high compliance costs and overly broad powers to block websites.
- The vetoed bill would have placed crypto market oversight under the KNF (Polish Financial Supervision Authority), which said Friday Poland still lacks a designated MiCA supervisor despite the EU framework already applying across member states.
- Donald Tusk disclosed witness testimony ahead of the vote alleging a 2 million zloty ($550,000) payment arrangement involving a foundation linked to former Justice Minister Zbigniew Ziobro, plus a promise of a presidential pardon if the witness were convicted.
- BB Trade Estonia, the Estonian operator of defunct crypto exchange Zondacrypto, was declared bankrupt by an Estonian court in August, with the first creditors' meeting set for Sept. 17.
- Zondacrypto losses are estimated at no less than 350 million zlotys ($95 million) by Polish prosecutors, who in July merged the fraud probe with the investigation into the 2022 disappearance of BitBay founder Sylwester Suszek.
Why it matters: Poland remains without a designated crypto supervisor under MiCA even though the EU regulation already applies, leaving the country's market in a regulatory gap while a $95 million fraud case with alleged ties to former ruling-party figures intensifies demands for the framework Tusk backs.
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