Will the Battle of Cryptocurrencies dissolve on the Presidential Palace-the Presidential Palace? PiS MP Janusz Kowalski said Gazeta Wyborczathat if the Sejm does not introduce to the draft law on the market of digital assets of changes, Karol Nawrocki will veto the document.
Cryptocurrency Act
Two days ago I wrote at Bitcoin.pl about the fact that the Polish government is trying to regulate the cryptocurrency market again. Only that the project prepared by the authorities is written in such a way that it will eliminate domestic entities from the Polish market. Especially the smaller ones, which will not be able to pay for the licensing process, and then for monthly costs.
The fee for the regulator in the amount of 0.4% of turnover: In the case of companies that book all transactions as operational trading, the lack of the upper limit of this fee means in practice the end of the profitability of such activities in Poland. As a result, native entities will increasingly apply for a license outside the country, where supervision conditions are more rational and predictable.
Secondly, the selection of the Polish Financial Supervision Authority (KNF) as the future crypto market regulator is alarming. In recent years, the PFSA has consistently demonstrated the distance and ostracism towards the entire industry. Therefore, the current decision of the legislator raises justified doubts as to the future shape of the supervision. It also raises concerns about further suppression of innovation and competitiveness of the Polish market
– Kang’s president, Sławomir Zawadzki, told me when I asked him about the impact on the market.
PiS MP Janusz Kowalski now takes the defense of Polish entrepreneurs, who took part in, among others in public consultations on blockchain and cryptocurrencies in the Sejm.
The government’s draft act on cryptoctives does not meet the basic principle, which, when implementing EU law, should apply: “EU + zero” (national regulations should not extend what the EU proposes – editor’s note). Government regulations, if they came into force, would block the development of cryptoctives in Poland for years, and Poles are a fintech nation. The success of BLIK and many other solutions prove that cryptoactic should be treated as innovations, not as a threat
– he said Gazeta Wyborcza politician.
(…) When I was a deputy minister of agriculture, I built supra -party political support for biogas, so now I want rational solutions in an innovative field of cryptocurrency. This is not so obvious, the PiS attitude towards the crypto market is not enthusiastic, but I think that my activity is slowly changing it
– He explained why he was involved in defending the industry.
Kryptophirms want to reduce these fees and facilitate access to banking, because banks in Poland have not been wanting to cooperate with them for a long time. MP Kowalski claims that his party will win these points. Otherwise, he will reach for atomic weapons: the regulations will be vetoed by the president.
At the stage of parliamentary work on the Act on cryptoctives as Law and Justice, we will report dozens of amendments to the government project. If these recommendations are not taken into account, then the veto of President Karol Nawrocki should be expected
– the parliamentarian promised.
We believe that the work of the parliamentary committees is the last moment to introduce the necessary corrections and preventing the permanent weakening of the position of Polish technology companies on a European scale
– warns Zawadzki.
When will everything explain?
However, the bill is at a very early stage of work. Only “left” the government offices and went to the Sejm. Only that we have a holiday break ahead of us – in July only one meeting (on July 7-9), during which the deputies would take care of cryptocurrencies. So everything indicates that the topic will not return only when Karol Nawrocki is already sworn in the president. And during the election campaign he talked about his sympathy for cryptoin investors:
I notice that more and more people and companies are investing in cryptocurrencies. What is my attitude towards this? Innovations must arise in Poland, not regulations. As the President of the Republic of Poland, I will guarantee that the murdered regulations will not come into force that will limit your freedom.
But what if the head of state vetos the document? The Polish market will be unregulated? No, Kowalski claims that we will receive an alternative project that will be created in cooperation with, among others with the Blockchain Chamber and new technologies. Then he will be laid in the Sejm “by a supra -political group of deputies or by President Karol Nawrocki”.
