Egyptian regulators deny that domestic banks will handle Bitcoin business


nnnIn the past, there were rumors that the Egyptian central bank would allow banks in the country to deal with encrypted currency business such as Bitcoin. But recently, Egypt’s central bank vice president Gamal Negm denied this. At present, more and more countries attach importance to the legal framework, according to national laws to establish the status of this technology, but Egypt’s encrypted money market is still in the new stage.n
nnTranslation: Clovern
nThe Egyptian central bank recently rumors that it is not possible to allow the country’s banks to handle bit currency and other encrypted money business.n
nAccording to reports, these rumors first appeared in the social media, and the news, the Egyptian central bank vice president Gamal Negm immediately denied this.n
n”To keep the stability of the Egyptian banking system, the bank will only deal with official currency-related businesses without dealing with any virtual currency-related businesses,” said Negm last month to Amwal Al Ghad, an Egyptian economics journalist. “The publications in Washington, DC The Al-Monitor Egyptian news forum was reported yesterday.n
nAt present, more and more countries attach importance to the legal framework, and in accordance with domestic law to establish the status of this technology, the Egyptian central bank of this rumor at this time.n
nSo far, Japan has become the earliest through the new regulations, the establishment of such a way to pay the legal status of the country, while India and Russia, including the country is also actively developing such a framework.n
nAccording to LocalBitcoins, Egypt, like other countries in the region, has a relatively new encrypted money market and is serviced by start-ups such as BitOasis and local exchanges.n

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