Date: 8 months ago   Category: Economy

In Hungary cryptocurrencies won't become a legal payment method


Hungary works on regulation of cryptocurrencies, but according to the Ministry of Finance, cryptocurrencies won't begin to be qualified as legal means of payment.

of Cryptocurrency aren't qualified as lawful means of payment, electronic cash, a financial instrument or a money equivalent according to the current legislation of Hungary, the Ministry of Finance of the country has stated, report local mass media.

According to the publication on the web portal of financial news Portfolio, Hungary studies a question of creation of rules for cryptocurrency tools now. The central bank, tax authority and the Ministry of Finance have united to create the working group for assessment of legal, economic, tax and law-enforcement consequences.

according to the Hungarian technological website Fintechzone, the government has decided to begin work with cryptocurrency policy because of the growing popularity, despite the related risks. Possible regulation of cryptocurrency tools in Hungary is really difficult task and his question can't be considered as a phenomenon of civil law in itself, - it is said in the statement of the ministry. From the point of view of the legislation, use of cryptocurrency system provides a large amount of risks, such as risks of money laundering and financing of terrorism, questions of control and consumer protection or cyber crime threat. The ministry has noted that the cryptocurrency branch needs tougher regulation, than that which is provided at the level of the EU and concerns measures for fight against money laundering at the cryptocurrency exchanges. However possible, the legislation shouldn't be so rigid not to frighten off innovative technologies, and only has to minimize risks.

Hungary is not the only European country which will toughen regulation of cryptocurrency branch. Last week it became clear that the group of the Ukrainian deputies has drafted the bill providing the taxation of profit on cryptocurrency trade. At the same time other countries, such as Malta, already regulate branch and attract the main players.

URL:




Today

just now

New explosions happened on the island of Sri Lanka. Local mass media reported about it. the Representative of police of Gunaseker reported Rouen to about new, seventh explosion in hotel in the south...

just now

Every year the Apple smartphones only becomes more expensive. It is connected with a set of the most various and independent factors: beginning from inflation and increase in prices for accessories, f...

just now

The medicine walks with great strides, trying to correspond to rates of technical progress in every possible way. However there are laws of the nature - firm and unshakable. the Speech in this case...

just now

Since the morning, in the combat zone in the east of Ukraine polling precincts began to work. Civil headquarters are mainly concentrated in office buildings. At military vote takes place in tents. Alm...

just now

Until the end of 2019 tax specialists will check over 1650 businessmen and 347 companies. the Public fiscal service published on April 15 the updated plans of checks of business for 2019. Is about documentary planned inspections of individuals businessmen and also about documentary planned inspections of taxpayers legal persons concerning corre...

just now

The residents of the annexed Crimea voting at the election of the president of Ukraine near administrative border with the peninsula received as a gift motanki-angels. The user Olga Volynets on the Ob...

just now

The scanty share of smart inheritance could show the real face of Christina. Christina Orbakaite never bathed in parental love. Since the childhood her communication with the father was limited, and...

just now

The representative of the campaign headquarters of Vladimir Zelensky Alexander Korniyenko on Sunday, April 21, said that tried to cancel its registration as a presidential candidate nine time, the UNI...