Polish parliament deliberates on four versions of encryption bill; ruling PiS party MP proposes additional draft comprehensive ban.

CoinFeed reported on May 12 that, according to The Block, the Polish lower house of parliament (Sejm) has begun deliberating on four cryptocurrency regulatory bills proposed by the government, President Karol Nawrocki, the Poland 2050 party, and the Confederation party. The president had previously vetoed related legislation twice. Local media reports that the main differences between the government's and the president's versions lie in the Polish Financial Supervisory Authority's (FISA) restrictions on account freezing and the maximum fines. The president's version maintains the maximum fine of 20 million złotys for obstructing inspections, while the Ministry of Finance's version increases it to 25 million złotys. Meanwhile, members of the ruling PiS party withdrew their April-submitted cryptocurrency market regulatory bill on Monday, instead submitting a new bill that universally bans cryptocurrency activities. Speaker Włodzimierz Czarzasty stated that the ban bill will be addressed after the four main regulatory bills have been reviewed, unless PiS withdraws its proposal.