President Karol Nawrocki has vetoed Poland’s Cryptoasset Market Act, stopping a bill he says would have placed harsh restrictions on the country’s growing crypto sector. A statement on his official website warned that several provisions posed “a real threat to the freedom of Poles, their property, and the stability of the state.”

Nawrocki argued the act would give authorities the power to shut down crypto company websites “with a single click,” calling the domain-blocking rules unclear and vulnerable to abuse. He also criticized the legislation’s excessive length—over 100 pages compared to much shorter versions in neighboring countries—and warned that high regulatory fees would favor big corporations while choking innovation from startups.

The president said the heavy-handed approach risked driving crypto businesses to nations like the Czech Republic or Slovakia instead of keeping them in Poland. Nawrocki, elected in June as an independent backed by the Law and Justice party, emphasized that overregulation would push investment abroad rather than support local development.