Egypt will appear the first bit currency exchange


nnnJudge: Egyptian digital money lovers face great obstacles in the conduct of digital money trading, because the depreciation of the Egyptian pound makes many international exchanges do not support the use of Egyptian pounds to buy digital currency. In order to alleviate this situation, Bitcoin Egypt will be established as the first digital currency exchange in Egypt in September. But it is important to note that the Egyptian government has yet to show signs of accepting such new technologies, so the future fate of the exchange remains to be seen.n
nnTranslated by: Inan
nEgypt’s first digital currency exchange, Bitcoin Egypt, will be established in September.n
nThe exchange allows the use of Egyptian pound for digital currency transactions, will become the lack of digital currency regulatory framework of the country’s first promoter of the field.n
nBitcoin Egypt co-founder Rami Khalil told Reuters:n
nn”We are still waiting for the Egyptian government to develop some regulatory rules.No relevant laws, Bitcoin in Egypt does not belong to the legal currency.Even the Egyptian government is involved, encryption assets are in development.If you do not participate, they will miss a huge market “n
nnAs in the economic situation in many parts of the world, the Egyptian people are facing the problem of the rapid depreciation of their currencies. Since November 2016, the value of Egyptian pound has dropped by 50%, Venezuela and other political turmoil countries have also appeared in a similar situation.n
nEgyptian Bitcoin enthusiasts encountered serious obstacles in buying digital money. As the Egyptian pound is very fragile, most foreign exchanges do not offer “Bitcoin – Egyptian Pound” deals. Bitcoin Egypt co-founder Omar Abdelrasoul explained to local media Albawaba:n
nn”We had the idea of ​​setting up an exchange because we saw that many Egyptians wanted to carry out digital currency transactions, but it was difficult to do so at transnational exchanges because they could not buy money in Egyptian pound.n
nnThe Egyptian government has taken a tough stance on this emerging technology and issued an ironic statement this year that the use of currencies other than the Egyptian pound would cause “instability”.n

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