Polish Right-Wing Political Party Rushes 'Total Crypto Ban' Proposal, Parliament Debates Crypto Regulation Bill

BlockBeats News, May 12th - As the Polish Parliament discusses four cryptocurrency regulation bills, the right-wing Law and Justice (PiS) party has suddenly introduced a new bill proposing a comprehensive ban on cryptocurrency-related activities in Poland, causing attention from the local political scene and the market.

Reports indicate that the Speaker of the Polish Parliament, Włodzimierz Czarzasty, has confirmed that the Parliament is currently synchronously deliberating on four cryptocurrency bill texts from the government, President Karol Nawrocki, the "Poland 2050" party, and the "Confederation" party.

Among them, the main controversy is focused on the Polish financial regulatory authority's account freeze authority and the severity of penalties for violations. The President's version of the bill maintains a maximum fine of 20 million zloty (about $5.5 million), while the Ministry of Finance version proposes to increase it to 25 million zloty (about $6.9 million).

At the same time, several PiS members of Parliament have withdrawn their previous support for the market regulation bill submitted in April and have instead introduced a separate proposal to "prohibit cryptocurrency activities."

Speaker Czarzasty stated that this prohibition proposal will enter the process after the completion of the deliberation on the four main regulatory bills, provided that PiS does not voluntarily withdraw it.

He also described the current cryptocurrency industry situation as a "devil's dance" and publicly questioned the financing relationships between some politicians and local cryptocurrency platforms, as well as the reasons behind the President's two previous vetoes of cryptocurrency bills.