Poland passes law to criminally penalize unlicensed crypto firms

Poland's lower house of parliament has passed the Crypto-Asset Market Act, which will require all crypto-asset service providers (CASPs) to obtain a license, The Crypto Basic reported. Under the new law, operating without a license can result in fines of up to $2.8 million and a prison sentence of up to two years. Polish opposition politicians have criticized the legislation, calling it the strictest crypto law in the European Union.