Egypt: Central Bank’s Draft Law Requires Licenses for Crypto-Related Activities
Cointelegraph
Published May 28, 2019 09:04AM ET
Updated May 28, 2019 09:22AM ET
Egypt: Central Bank’s Draft Law Requires Licenses for Crypto-Related Activities
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.
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Written By: Cointelegraph
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