Hungary’s Central Bank Rules Out Bitcoin Reserves

This decision highlights the continuing cautious approach by European central banks regarding cryptocurrency inclusion in official reserves, with Bitcoin excluded due to risk concerns.

Hungary’s Central Bank, led by Kurali, has publicly confirmed it will not incorporate cryptocurrency assets in national reserves. Their strategy discussion excludes Bitcoin and other crypto assets, maintaining a conservative fiscal approach. The MNB’s decision directly targets the incorporation of Bitcoin and all cryptocurrency types into its reserves and confirms no budget allocation for digital assets. The stance aligns with that of many European banks, emphasizing asset volatility concerns.

Kurali, Official Spokesperson, Hungarian Central Bank (MNB): “The central bank is evaluating its international reserve strategy and excludes the possibility of including any crypto assets.”

The decision underscores European banks’ adherence to conservative financial models, often favoring traditional assets like gold. By opting against cryptocurrency reserves, the MNB reflects the broader framework of European fiscal strategies. This exclusion policy reflects prevailing financial prudence among European institutions. Within this broader context, other countries like the Czech Republic merely discuss Bitcoin for small-scale testing but refrain from significant reserve acquisitions, illustrating a generally conservative stance across the region.

No regulatory changes have been announced alongside this decision, reflecting an extension of existing policies among European institutions. Despite regulatory hesitation, jurisdictions such as New Hampshire in the USA have embraced cryptocurrency reserves, showcasing varied global approaches toward Bitcoin. Discussions around geopolitics of Bitcoin and gold further underline the complexity of integrating digital currencies into national reserves.