CryptoMediaClub
Monday, October 27, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Hungary Proposes New Bill To Allow Banks To Provide Crypto Services

06.03.2024
A A
0
128
VIEWS
ShareShare

Hungary Proposes New Bill To Allow Banks To Provide Crypto Services

Hungary is taking a significant step towards embracing crypto by introducing a proposed bill that would allow banks, investment funds, and asset managers to offer crypto services to customers.

Hungary’s move to embrace cryptocurrencies comes at a time when the global crypto market is making a comeback after a year-long market crisis.

According to a report, the proposed law, announced by the Hungarian Ministry of Economy, aims to establish a clear regulatory framework for the issuance and use of digital assets in the country.

The regulation is scheduled to take effect starting this year on June 30 upon approval.

Central Bank Of Hungary To Regulate Crypto Assets

Under the proposed law, the Central Bank of Hungary, Magyar Nemzeti Bank (MNB), will oversee the regulation of crypto assets in the country.

See Also: Delta Hardfork Triggered Significant Fees Reductions On Optimism-Based Layer-2 Chains

MNB will be responsible for providing a regulatory framework for digital asset services, ensuring that banks and financial institutions comply with the guidelines.

The move represents a significant shift, as before now, cryptocurrencies in Hungary lacked proper regulation with no definite classification of the virtual assets as seen in other European jurisdictions such as France and Germany, which categorized them as financial instruments.

Despite the new proposed regulation, Hungary has not yet recognized virtual assets as legal tender.

However, individuals can use their credit and debit cards to purchase cryptocurrencies from local and foreign exchanges. This indicates a gradual acceptance of cryptocurrencies within the country’s financial ecosystem.

Hungary To Consider CBDCs

Hungary, known for its cautious approach towards innovation, is not only making strides to embrace crypto but also considering the possibility of issuing a central bank digital currency (CBDC).

Last year, Anikó Szombati, the chief digital officer of MNB, mentioned plans to explore CBDCs through various pilots.

However, she noted that Hungary does not currently see an urgent need for a large-scale introduction of a retail CBDC.

The country’s new legislative initiative aligns with the European Union’s efforts to create a regulatory environment that accommodates cryptocurrencies while ensuring security and compliance.

The law aims to integrate digital assets into traditional financial systems in a technology-neutral manner.

See Also: Nigerian Authorities Summons Binance’s CEO Over Alleged Terror Financing

It could also encourage other European countries to adopt similar regulatory frameworks, promoting innovation in the financial sector and aligning with EU directives.

Meanwhile, Hungary’s move to embrace cryptocurrencies comes at a time when the global crypto market is making a comeback after a year-long market crisis.

The total market capitalization of cryptocurrencies recently surpassed $2 trillion, with Bitcoin (BTC) leading the way as the most valuable digital asset followed by Ethereum (ETH).

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN

The post Hungary Proposes New Bill To Allow Banks To Provide Crypto Services appeared first on BitcoinWorld.

Share10Tweet6ShareSharePin2

Related Posts

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge
Bitcoin

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge

15.07.2025
0

BitcoinWorldCoinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge The cryptocurrency world is buzzing with excitement, and for good reason!...

Read moreDetails
Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

14.07.2025
Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

14.07.2025
Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

14.07.2025
Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

08.07.2025
Load More
Next Post
Virginia Senate Passes Blockchain Bill to Foster Crypto Adoption

Virginia Senate Passes Blockchain Bill to Foster Crypto Adoption

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Ethereum’s Dencun Upgrade Faces Potential Delay, Testing Crucial for Mainnet Launch

Ethereum’s Dencun Upgrade Faces Potential Delay, Testing Crucial for Mainnet Launch

2 years ago
AI Chatbot ‘Talk2Satoshi’ Reawakens Satoshi Nakamoto

AI Chatbot ‘Talk2Satoshi’ Reawakens Satoshi Nakamoto

2 years ago
Will Telegram Bow to Government Pressure on Privacy? Lawyer Says Yes

Will Telegram Bow to Government Pressure on Privacy? Lawyer Says Yes

1 year ago
Bitcoin Price Briefly Recovers Post Recent Dramatic Drop

Bitcoin Price Briefly Recovers Post Recent Dramatic Drop

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

XRP Price Prediction: Outpacing Other Altcoins XRP Closes Week Up 11.4% – Momentum Building?

Coinbase CEO Wants Every Startup to Launch, Fund, and IPO Onchain

Coinbase’s x402 AI Payments Protocol Sees 10,000% Surge in Activity

Bitcoin Price Prediction: Kiyosaki Says Path to Financial Freedom Paved With Bitcoin – Is He Right?

72-Hour Countdown: Snorter Bot Token Must Sell Out Before Claim Goes Live

Fed Rate Cut Odds Jump to 97% as CPI Comes in Cool at 3% – Bullish for BTC?

Trending

Your Crypto Isn’t Safe Outside the Blockchain, Vitalik Buterin Warns
All news

Your Crypto Isn’t Safe Outside the Blockchain, Vitalik Buterin Warns

27.10.2025
0

Ethereum co-founder Vitalik Buterin issued a stark reminder that while blockchain security prevents even a majority of...

Kyrgyzstan Launches Stablecoin on BNB Chain, Eyes National Digital Currency and Crypto Reserve

Kyrgyzstan Launches Stablecoin on BNB Chain, Eyes National Digital Currency and Crypto Reserve

27.10.2025
Ethereum Price Prediction: Key Weekly Bounce Confirms Strength, Eyes Crucial Resistance Breakout

Ethereum Price Prediction: Key Weekly Bounce Confirms Strength, Eyes Crucial Resistance Breakout

26.10.2025
XRP Price Prediction: Outpacing Other Altcoins XRP Closes Week Up 11.4% – Momentum Building?

XRP Price Prediction: Outpacing Other Altcoins XRP Closes Week Up 11.4% – Momentum Building?

26.10.2025
Coinbase CEO Wants Every Startup to Launch, Fund, and IPO Onchain

Coinbase CEO Wants Every Startup to Launch, Fund, and IPO Onchain

26.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz