The governor of Hungary’s central bank has called for a ban on cryptocurrency trading and mining in the European Union. “It is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids,” he said.
Hungarian Central Bank Chief Wants EU-Wide Crypto Trading and Mining Ban
The Hungarian National Bank, the central bank of Hungary, published a statement Friday from György Matolcsy, the governor of the central bank, declaring that the “Time has come to ban crypto trading and mining in the EU.”
He noted that “China declared all cryptocurrency activities illegal last September” and Russia’s central bank has proposed “a ban on crypto trading and mining.”
Commenting on the Russian central bank’s crypto ban proposal, Governor Matolcsy said:
I perfectly agree with the proposal and also support the senior EU financial regulator’s point that the EU should ban the mining method used to produce new bitcoin.
In January, the vice cha
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