Egypt: Central Bank of Egypt warning statement regarding dealing with all types of encrypted virtual currencies
Progress
Current status
adopted
13 Sep 2022 adopted
Scope
Implementers
Egypt
Policy Area
Authorisation, registration and licensing
Policy Instrument
Prohibition of goods and services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central bank
Implementation Level
national
Timeline of events
Central Bank of Egypt released warning statement regarding dealing with all types of encrypted virtual currencies
On 13 September 2022, the Central Bank of Egypt (CBE) renewed its warning against dealing with all types of encrypted virtual currencies, citing significant risks such as high fluctuations, price volatility, and their potential use in financial crim…
Event type
order
Action type
adoption
Government branch
executive
Government body
central bank