Poland has moved closer to expanding its sanctions powers after lawmakers approved legislation allowing authorities to freeze cryptocurrency holdings. The proposed law would bring digital assets under the country’s national sanctions framework.
Consequently, individuals and businesses facing sanctions could lose access to their crypto funds. The move also reflects growing government attention toward digital assets in financial enforcement.
Sejm Approves Expanded Sanctions Powers
The Sejm, Poland’s lower house of parliament, approved the government-backed bill with 240 votes. Another 202 lawmakers opposed it, while one abstained. The legislation now awaits consideration by the Senate.
Besides covering cryptocurrencies, the bill would expand the grounds for adding individuals and companies to Poland’s national sanctions list. These grounds include foreign interference and information manipulation that threaten national security.
Moreover, Poland’s interior minister would oversee the sanctions list. Designations would take effect the day after publication, allowing authorities to enforce restrictions immediately.
Senate Review Determines Next Steps
Significantly, affected individuals and companies could challenge their inclusion through administrative courts. However, legal challenges would not automatically suspend enforcement.
Poland introduced its existing sanctions framework in 2022 to counter support for Russia’s invasion of Ukraine. The new legislation would strengthen that system.
Additionally, the Senate has 30 days to approve, amend, or reject the bill. If lawmakers take no action, the legislation proceeds toward presidential consideration.
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