Poland to introduce crypto regulation invoice in Q2: report

• The brand new invoice seeks to introduce a crypto regulatory framework that aligns with the EU’s MiCA.
• Poland’s Monetary Supervision Authority (KNF) will supervise cryptocurrencies and impose penalties the place relevant.

Poland’s monetary markets regulator plans to have a crypto regulatory framework in place by the tip of the 12 months, the Finance Magnates has reported.

In line with the publication, which has cited particulars revealed in native media retailers, the Polish authorities is seeking to introduce a crypto regulation invoice that can facilitate this in Q2.

The transfer will see the Polish Monetary Supervision Authority (KNF) empowered to surpervise the digital property market within the nation according to European crypto regulatory tips. The EU adopte its Markets in Crypto Belongings (MiCA) regulation in 2023 and is ready to return into impact this 12 months.

Poland’s pursuit of recent crypto-related laws is subsequently right down to the necessity to align native legal guidelines with the brand new EU guidelines. The brand new crypto invoice is eyeing extra readability for KNF and the broader cryptocurrency trade, in addition to correct investor safety.

If the brand new invoice’s adopted into regulation, the Polish markets’ watchdog could have the authority to impose monetary penalties towards crypto corporations.

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