Hungary Transposes EU Rules on Markets in Crypto-assets
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Hungarian MPs approved legislation transposing European Union regulations and directives on markets in crypto-assets into national law on Wednesday, according to a report by state news wire MTI.
Lawmakers approved the legislation with a vote of 146 for, five against, and 30 abstentions.
The legislation classifies crypto-assets into three types: crypto-assets that aim to stabilize their value by referencing only one official currency, defined as "e-money tokens"; crypto-assets other than e-money tokens whose value is backed by assets; and crypto-assets other than e-money tokens and asset-referenced tokens.
The legislation mandates the National Bank of Hungary to regulate the crypto-assets market.
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