According to PANews, Hungary is aiming to establish a digital asset regulatory framework with the Hungarian Central Bank as the main supervisory authority. The legislative draft intends to allow banks, investment funds, and asset management companies to provide cryptocurrency market services. If the bill is approved, the regulations will come into effect on June 30th.
The proposed framework is expected to bring more clarity and security to the digital asset market in Hungary, as well as attract new investors and businesses to the country's growing cryptocurrency sector. The involvement of the Hungarian Central Bank as the main regulator is seen as a positive step towards ensuring the stability and safety of the digital asset market.