Hungarian Central Bank Warns of Bitcoin & Cryptocurrencies’ Risks
The National Bank of Hungary (MNB) has issued a public statement warning citizens who use or invest in cryptocurrencies such as bitcoin, citing their unregulated nature amid increasing instances of high-return investment schemes abusing the cryptocurrency. Roughly translated, the warning read: The so-called cryptocurrency issuers typically operate via the web with extensive marketing tools and the promise of high yields, targeting uninformed users into the system (scheme). Published yesterday, the MNB warned users looking to invest in virtual currencies that they are outside the purview of....
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