The Governor of the Hungarian National Bank, György Matolczy, called for a ban on the mining and trading of cryptocurrencies in connection with the “danger of criminal use and the creation of fraudulent pyramids.”
György Matolcsy believes that the whole of Europe should follow in the footsteps of China and draw up a document to ban mining and trading in cryptocurrencies. The Hungarian politician and economist liked the recent report of the Central Bank of Russia, calling for a complete ban on cryptocurrencies in the Russian Federation.
“I fully agree with the proposal of the Central Bank of Russia, and also support the position of the EU financial regulator that it is necessary to ban the mining method used to extract bitcoins in Europe. Obviously, cryptocurrencies can be used for illegal activities and encourage the creation of pyramid schemes. The Russian central bank rightly says that “the growth and market value of cryptocurrencies are determined primarily by speculative demand, which creates bubbles.” The European Union must act together,” Matolci wrote in a statement.
At the same time, the Governor of the Central Bank of Hungary does not call for a complete ban on the possibility of owning digital assets for residents of Europe. According to his proposal, European citizens and companies will be able to own cryptocurrencies on foreign platforms, and European regulators will track their assets.
Last May, European Parliament member Sven Giegold also urged eurozone regulators to impose certain restrictions on bitcoin mining.
Source: Bits
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