Polish Senate Discusses Cryptocurrency Regulation

The Polish government is currently preparing a new project to regulate the cryptocurrency market in Poland. The Polish government is attempting to align cryptocurrency market regulations with the taxation logic used for stocks and securities. Prime Minister Donald Tusk announced that a draft law regulating the cryptocurrency market will be submitted to the Sejm this week. The project aims to establish higher sanctions for fraudsters compared to previous state initiatives. The law is expected to be processed in an emergency mode. Tusk has called on the opposition to cooperate on the legislation. Ambassador Andrzej Szajna noted that the proposed law aims to protect citizens through well-considered regulation. The draft does not currently include the changes previously advocated by President Karol Nawrocki. The government is expected to proceed with the regulation if the draft is deemed sufficiently robust. Senate Vice-Marshal Magdalena Biejat stated that new price lists include higher penalties for fraudsters than previous proposals. Biejat noted that changing external circumstances may allow the President to reconsider his position. She suggested the President should sign the regulations to avoid suspicions of having conflicting interests in the cryptocurrency market.