Ban on bitcoin trading urged by a central bank governor

Bitcoin pecture

Central bank officials in Hungary have joined the growing number of monetary authorities around the world who believe bitcoin mining and trading should be banned, as the bank’s governor emphasized that digital currencies can be used to facilitate illegal activities.In a press conference today, Hungarian Central Bank Governor György Matolci urged the country to blatantly ban cryptocurrencies, including Bitcoin, making a somewhat familiar argument like many others that it is used for criminal activity.As a result, he explained, the European Union and Hungary should follow the lead of countries such as China by banning Bitcoin activity. The European Union should prevent financial bubbles by anticipating them, and should not allow European citizens and companies to own and operate digital currencies abroad.There has previously been a proposal by the Russian Central Bank to ban the issuance, mining and trading of digital currencies, including bitcoin, in Russia in order to reduce the criminal threats associated with the spread of digital currencies, the most important of which is money laundering.

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