Hungary’s Central Bank Wants EU Crypto Ban

The idea that cryptocurrency should be banned does not stop. At the moment, it’s Hungary’s central bank Chief who calls for a wide EU cryptocurrency trading and mining prohibition. In one of the central bank’s blog posts, Governor Matolcsy cited the latest crypto ban in China and called for a complete ban of digital assets in the EU.

Matolcsy Also Points Out Russian Central Bank Proposal

Matolcsy also acknowledged the Russian central bank’s proposal for a complete cryptocurrency trading and mining ban in the country. He noted he perfectly agrees with the recommendation. According to Matolcsy, the European Union should also ban cryptocurrency mining and trading.

His idea is backed by many cases where cryptocurrencies were involved in illicit activities. Matolcsy also thinks digital assets are often used to build up financial pyramids.

However, with the total ban, the investors would be protected. Still, Matolcsy claims that EU citizens and companies could still own digital assets abroad, but the regulators will track their holdings.

On the other hand, in 2021, a bronze statue of Satoshi Nakamoto was unveiled in Graphisoft Park in Budapest, Hungary. Alex Gladstein noted that the shiny bust is there to inspire everyone who fights against authoritarians globally.