Poland’s lower house backs sanctions bill covering crypto freezes

Poland’s lower house passed a bill that would broaden the country’s sanctions framework and explicitly include crypto assets among the funds authorities can freeze when imposing sanctions.

The Sejm approved the government-backed Act on Restrictive Measures on Friday by 240 votes to 202, with one abstention, and forwarded it to the Senate on Monday, according to official parliamentary records. The bill explicitly includes crypto assets, as defined under the European Union’s Markets in Crypto-Assets Regulation (MiCA), among financial funds that authorities could freeze when imposing sanctions.

Poland’s interior minister would oversee the national sanctions list, with sanctions-listing decisions taking effect the day after authorities publish a designation. Affected individuals and companies could challenge the decision in administrative court, but the bill allows enforcement before a court ruling.

Poland already maintains a national sanctions list under a 2022 law aimed at countering support for Russia’s invasion of Ukraine. The bill would expand the grounds for imposing national sanctions to include certain foreign interference and information manipulation that pose a serious threat to national security.

The Senate has 30 days to approve, amend or reject the legislation. If it takes no action, Poland’s Constitution treats the bill as approved in the form passed by the Sejm, allowing it to proceed to the president for consideration.