Poland’s lower house fails to overturn President’s veto of the strict Crypto Asset Market Act

BlockBeats News, December 5, according to Bloomberg, the lower house of the Polish parliament failed to secure enough votes in Friday's ballot to overturn President Nawrocki's veto of the strictly regulated "Crypto Asset Market Act".

President Nawrocki stated before the vote that this legislation is crucial for implementing EU standards for the cryptocurrency industry and for national security. Although the bill passed other levels of parliament, the president's veto and the lower house's failure indicate that the bill faces significant obstacles in the legislative process.

BlockBeats previously reported that on December 2, Polish President Karol Nawrocki vetoed the strictly regulated "Crypto Asset Market Act", which drew praise from the cryptocurrency community and strong criticism from the government. The Polish presidential office stated that the bill's provisions "truly threaten the freedom, property, and national stability of the Polish people".