Hungarian Central Bank Governor: Supports Ban on Crypto Trading and Mining in EU

Hungary’s central bank governor György Matolcsy said he supports a ban on crypto trading and mining in the European Union on the grounds that it could “serve illegal activities and have the potential to create financial pyramids (scams).” György Matolcsy said he agreed with the Russian central bank’s previous Proposal to ban crypto activities. "I fully agree with this proposal and support the view of the EU's top financial regulator that the EU should ban the mining methods used to produce most new bitcoins," he wrote in the announcement.