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Poland’s lower house failed to override the president’s veto of a cryptocurrency regulation bill, local state news agency PAP reported. Polish President Karol Nawrocki had previously vetoed the bill passed by parliament, saying it would impose excessive regulation on the industry.
The Sejm attempted a revote on Sept. 4 to overturn the veto but failed to secure the three-fifths majority required from seated lawmakers, according to PAP. It was the third time a Polish president has vetoed a cryptocurrency regulation bill, and the legislation includes a provision designating the Polish Financial Supervision Authority (KNF) as the regulator.