Poland passes strict regulation bill on Crypto Assets, with fines of up to $2.8 million.

[Poland Passes Strict Crypto Assets Regulatory Bill, Maximum Fine of $2.8 Million] The lower house of the Polish parliament has passed a new version of the "Crypto Assets Market Bill," which received 230 votes in favor and 196 votes against. The bill requires all Crypto Assets service providers (CASP) to apply for a license from the Polish Financial Supervision Authority (KNF), and violators will face fines of up to 10 million zlotys (approximately $2.8 million) and up to two years in prison. Following the implementation of the bill, a six-month transition period will be granted. Critics have labeled the bill as "the strictest crypto assets regulations in the EU," sparking strong opposition from the industry, which believes it could harm the interests of Poland's 3 million crypto assets holders. The bill has now been submitted to the Senate for review.