As cryptocurrency becomes more and more acceptable, the calls to regulate the sector are growing. The latest in a growing number of central monetary entities which seek to ban cryptocurrencies is the Central Bank of Hungary.
MNB’s Governor, György Matolcsy, has urged the country and the EU to ban bitcoin mining and trading. The Governor contended that cryptocurrencies could serve as a conduit for illicit activities.
Hungary Governor urges for a crypto ban
The Governor was speaking at a press conference on February 11. The Governor of the Hungarian Central Bank urged a complete ban on all forms of trading in cryptocurrencies. The Governor repeated the oft-repeated argument that cryptocurrencies led to illegal activities and tended to build up financial pyramids.
The Governor cited the example of China, which has put a complete ban on anything related to cryptocurrencies. He also mentioned a recent proposal by the central bank of Russia that also wanted to prohibit the usage of digi
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