Polish President Karol Nawrocki vetoed a government bill aimed at regulating the crypto assets market for the third time on June 11, blocking legislation that would have appointed the Polish Financial Supervision Authority as the market’s main watchdog.

The bill would have empowered the regulator, known as KNF, to supervise crypto asset service providers and impose sanctions on companies operating in the sector. It was intended to ensure Poland’s implementation of the European Union’s Markets in Crypto-Assets Regulation, known as MiCA.

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