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 yr, the Finance Magnates has reported.
In response to the publication, which has cited particulars revealed in native media retailers, the Polish authorities is trying to introduce a crypto regulation invoice that may facilitate this in Q2.
The transfer will see the Polish Monetary Supervision Authority (KNF) empowered to surpervise the digital belongings market within the nation in step with European crypto regulatory pointers. The EU adopte its Markets in Crypto Belongings (MiCA) regulation in 2023 and is ready to return into impact this yr.
Poland’s pursuit of recent crypto-related laws is due to this fact all the way 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 business, 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 firms.
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