Hungary's Central Bank, led by Kurali, stated that it will not include cryptocurrency assets in national reserves, including Bitcoin.
Hungarian Central Bank's Decision
The Hungarian Central Bank confirmed that it will not include cryptocurrency assets in its reserves. This decision concerns both Bitcoin and other cryptocurrencies, reaffirming their conservative fiscal approach.
Comparison with Other European Countries
A similar approach is observed in other European countries where the question of Bitcoin reserve is discussed but largely remains at the level of short-term tests. For instance, the Czech Republic is only considering small-scale experiments with cryptocurrencies.
Economic Implications and Prospects
The refusal to hold cryptocurrencies in reserves underscores the tendency of European banks to adhere to conservative financial models. It also reflects a pragmatic approach towards the volatility of crypto assets, while other jurisdictions are adopting more progressive strategies regarding crypto reserves.
The Hungarian Central Bank's decision not to include Bitcoin in reserves demonstrates a conservative approach to financial policy in Europe and reflects broader trends across the continent.
