A new banking law drafted for the Central Bank of Egypt (CBE) would make it mandatory to obtain licenses in advance of creating, advertising or operating platforms for issuing or trading cryptocurrencies. The news was reported by online newspaper The Egypt Independent on May 28.
Citing an official source’s remarks to the Egyptian MENA news agency, the Independent states that if passed, the draft bill will also empower the CBE’s Board of Directors to determine and issue rules for the trading and handling of cryptocurrencies in the country.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.