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May 10, 2017

National Bank of Hungary to take action against OneCoin digital currency

NBH discussed OneCoin, which it said “shows some signs of a pyramid scheme”, with Interior Ministry bodies, the Budapest Police Headquarters, Budapest’s Chief Prosecutor, Hungary’s Chief Prosecutor, the National Tax and Customs Authority, the National Investigation Office and the National Police Headquarters

The National Bank of Hungary has said it had agreed with a number of authorities on joint measures against the virtual currency OneCoin.

According to MTI, the NBH discussed OneCoin, which it said “shows some signs of a pyramid scheme”, with Interior Ministry bodies, the Budapest Police Headquarters, Budapest’s Chief Prosecutor, Hungary’s Chief Prosecutor, the National Tax and Customs Authority, the National Investigation Office and the National Police Headquarters at a meeting on Friday.

The NBH noted that it had issued written warnings concerning the use of virtual currencies, such as OneCoin and BitCoin, on nine occasions over the past three-and-a-half years.