Poland's lower house has passed a bill that would let the government freeze bank accounts, crypto holdings and other property without a court order. The bill still needs Senate consideration and the president's signature. Critics point to risks for property rights and free speech.
Poland's Sejm approved the Act on Restrictive Measures by 240 votes to 202, with one lawmaker abstaining. The vote took place on Nov. 6 and covers freezes of bank accounts, cryptocurrency holdings and other property through administrative decisions.
The government-backed bill would create a national sanctions list of individuals and organizations considered threats to Poland's security, including those involved in certain forms of foreign interference. Under the proposal, the interior minister could place people or companies on the list and order restrictions on their assets.
Crypto holdings fall under the freeze powers
Crypto sits within the financial assets the framework covers. During the Nov. 6 proceedings, lawmakers approved amendments clarifying how crypto assets, financial instruments and other property would be treated.
Banks and crypto exchanges holding assets for sanctioned customers would have to comply with freezing orders. For self-custodied wallets, enforcement would depend on authorities' ability to identify assets and restrict dealings involving sanctioned people.
A government order would not, by itself, give officials control of the private keys behind a personal wallet. The proposal does not establish a general freeze on crypto holdings in Poland. Its financial restrictions would apply to individuals and organizations designated under the national sanctions system.
Appeals would not pause the freezes
Affected parties could challenge a decision before an administrative court, but an appeal would not automatically suspend the restrictions. The bill is separate from the EU's Markets in Crypto-Assets Regulation, or MiCA, which mainly governs crypto service providers and licensing.
Opposition lawmakers and legal groups have criticized the lack of prior judicial approval. In an October analysis, Polish legal organization Ordo Iuris argued the national sanctions list goes beyond what EU law requires and could threaten constitutional protections for property and freedom of expression.
Senate and presidential approval still pending
The legislation has moved to the Senate and would still need the signature of President Karol Nawrocki. In September, the Sejm failed to overturn his third veto of a separate crypto regulation bill, with lawmakers voting 241 to 198 in favor of an override, short of the required three-fifths majority.
The sanctions bill addresses different activities and has not yet received a presidential decision.
Source: crypto.news
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