The Chairman of the Central Bank of Hungary called for a ban on mining and cryptocurrency trading – Bits Media

The governor of the Hungarian National Bank, Gyorgy Matolcsy, called for a ban on the mining and trading of cryptocurrencies due to the “danger of criminal use and the creation of fraudulent pyramids.”.

Djord Matolci (György Matolcsy) considers, that all of Europe should follow in the footsteps of China and draw up a document banning mining and trading of cryptocurrencies. Hungarian politician and economist liked the recent report of the Russian Central Bank, calling for a complete ban on cryptocurrencies in the Russian Federation.

“I completely agree with the proposal of the Central Bank of Russia, and also support the position of the EU financial regulator that, that the mining method should be banned in Europe, used for mining bitcoins. Obviously, that cryptocurrencies can be used for illegal activities and encourage the creation of financial pyramids. The Russian Central Bank rightly says that, that “the growth and market value of cryptocurrencies are determined primarily by speculative demand, what creates bubbles". The European Union must act together", – Matolcsy wrote in his statement.

At the same time, the governor of the Hungarian Central Bank does not call for a complete ban on the possibility of owning digital assets for European residents. At his suggestion, European citizens and companies will be able to own cryptocurrencies on foreign platforms, and European regulators will monitor their assets.

Last May, European Parliament member Sven Giegold (Sven Giegold) also called on eurozone regulators to impose certain restrictions on Bitcoin mining.