Polish lawmakers have approved a new, strict law on crypto assets, laying the groundwork for a tightly regulated market.
The legislation, approved by the lower house of parliament (the Sejm), establishes a comprehensive licensing regime and grants broad powers to the Polish Financial Supervision Authority (KNF).
The most severe provisions of the bill include criminal penalties for violations, with fines of up to PLN 10 million ($2.8 million) and prison terms of up to two years.
All crypto asset service providers, both domestic and foreign, must now obtain a license from the KNF to operate legally in Poland.