Hungarian government to allow Banks to provide Bitcoin investment services
As per the legislation, 30 June will be a key step towards formalizing the crypto market in a nation with this proposed bill
With this Bitcoin-friendly legislation, Hungarian lawmakers aimed to comply with the nation's traditional financial regulatory structure while aligning with relevant European Union (EU) legislation.
As per the legislation, 30 June will be a key step towards formalizing the crypto market in a nation with this proposed bill.
The Hungarian Central Bank, Magyar Nemzeti Bank (MNB), also looking forward to developing the sovereign digital currency, or say CBDC, to modernize the nation's payment system but they are not in a hurry for this, as CBDC faced a huge struggle to get adoption in the majority of the early adopter countries.
It is worth mentioning that the relationship between the Hungarian government and Central Bank is not smooth. Reportedly, the central bank governor alleged that the government wants to reduce the independence of the central bank through new policies.
