2025-06-24 19:07
publication
2025-06-24 19:07
The Council of Ministers adopted a bill on the supervision of the Polish Financial Supervision Authority on the cryptoactic market, which has, among others Increase customer protection against dishonest entities – the prime minister's office informed on Tuesday. The project was indicated as part of the deregulation activities.
As indicated in the communiqué, the draft of the Cryptoact Market Act adopted by the government, and the prepared ministry of finance adapts Polish provisions to the EU MICA regulation (The Markets in Crypto-Assets Regulation). The changes provided for in the project were indicated as part of the deregulation activities.
“The new law provides for the regulation and supervision of the cryptoactic market, including primarily regulations regarding the protection of clients and investors of this market. In addition, the activity of the so -called online currency currency exchange is regulated” – the Council of Ministers was noted. According to information provided by the government, 20 percent people using the cryptoactic market in Poland have been “deceived in various ways”.
Cryptoactic is a digital reflection of the value (e.g. money) or rights that can be transferred and stored electronically using the technology of dispersed register (e.g. blockchain).
The bill provides that the supervision of the cryptoactic market will be exercised by the Polish Financial Supervision Authority (KNF), which will be equipped with appropriate supervisory and control tools. The KNF supervision is also to be covered by online cryptocurrency cantors.
“In addition, to ensure the safety of Internet currency exchange users, there will be a obligation for an online currency exchange office to conduct an individual payment account for its clients. This will allow the clients' financial resources to protect, and also allow them to be available at any time,” it was announced in the communiqué.
Some duties of tokens related to assets and tokens being e-fencing, as well as cryptoactic service providers, are also to be clarified. In the event of a violation of the regulations, the PFSA will be able to make entries in its registry of dishonest internet domains used to conduct cryptoactive activities. This will be aimed at – as indicated – customer and market protection against dishonest entities.
The project also provides for the introduction of criminal liability for crimes committed, among others in connection with the emission of tokens or the provision of cryptoactic services. The perpetrators of the most serious violations will be threatened by a fine, the penalty of restriction of liberty or imprisonment.
Service providers related to cryptoctives are also to be obliged to apply the provisions of the Act on counteracting money laundering and financing of terrorism.
The new regulations are to come into force 14 days after its announcement in the Journal of Laws. (PAP)
GKC/ Mick/
