The Polish government plans to adopt a new law regulating the crypto sector, aiming to align with the EU’s MiCA regulations. This change raises concerns among local businesses about increased scrutiny and potential penalties.
Tougher regulations, including expensive licensing fees, may force many small Polish crypto companies to relocate. President-elect Karol Nawrocki perceives the proposed regulations as overly harsh and detrimental to innovation.
Regulatory authority will shift to the Financial Supervision Authority (KNF), capable of imposing heavy fines. While larger firms may adapt, smaller businesses could struggle to navigate these barriers, risking their survival.
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