Poland moves to include crypto assets in national sanctions regime

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Poland’s parliament has taken a step towards giving authorities explicit powers to freeze cryptocurrencies as part of national sanctions.

The Sejm, the lower house of parliament, approved the government-backed Act on Restrictive Measures on Friday, with 240 votes in favour, 202 against and one abstention. The legislation was sent to the Senate on Monday.

The bill adds crypto assets covered by the EU’s Markets in Crypto-Assets Regulation (MiCA) to the list of financial resources that can be frozen under sanctions. The interior minister would be responsible for maintaining the national sanctions list, and new designations would take effect the day after publication.

Those affected could appeal their inclusion in the list before an administrative court. However, filing a challenge would not prevent authorities from enforcing the sanctions while the case is pending.

Poland introduced its national sanctions list in 2022, following Russia’s invasion of Ukraine. The proposed legislation would also expand the grounds for imposing restrictions to include certain foreign interference and information manipulation that pose serious threats to national security.

The Senate has 30 days to review the bill and can approve, amend or reject it. If it does not act within that period, the legislation will be considered approved in the form adopted by the Sejm and can be submitted to the president.