Bitcoin Forum
July 19, 2019, 05:07:37 AM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2017-08-23] Central Bank of Egypt Responds to First Bitcoin Exchange Launch  (Read 1984 times)
iamTom123
Hero Member
*****
Offline Offline

Activity: 490
Merit: 501



View Profile
August 23, 2017, 03:01:41 AM
 #1

Quote
Following the news of the first bitcoin exchange launching in Egypt, a senior official at the country’s central bank promptly issued a statement that no entities have been authorized to trade bitcoin. As the central bank reiterates the legal status of the digital currency, other government agencies also weigh in.

The CBE official said in his statement that the bank has no intention of issuing legislation or passing a special law that allows the trading of digital currency, including bitcoin. In addition, the cryptocurrency is not recognized in financial and banking transactions.

Source Here.

It seems to me that this exchange would be facing an uphill battle with government authorities as the Central Bank of Egypt is not inclined to issue a permit to the said Bitcoin exchange. Maybe the people behind the exchange should try to open up communication with the people at the helm and convince them of the many opportunities that would be viable to the country once the exchange is open. Egypt is a good financial center in this side of the world and there is a big market for Bitcoin here considering that Middle East economies is really good despite the drop in oil prices.
1563512857
Hero Member
*
Offline Offline

Posts: 1563512857

View Profile Personal Message (Offline)

Ignore
1563512857
Reply with quote  #2

1563512857
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1563512857
Hero Member
*
Offline Offline

Posts: 1563512857

View Profile Personal Message (Offline)

Ignore
1563512857
Reply with quote  #2

1563512857
Report to moderator
1563512857
Hero Member
*
Offline Offline

Posts: 1563512857

View Profile Personal Message (Offline)

Ignore
1563512857
Reply with quote  #2

1563512857
Report to moderator
777Bitcoin
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
August 23, 2017, 04:56:23 AM
 #2

That is bad news and it doesn't really good to hear. That greedy official is close-minded to reality. Soon the people or citezens of that country might march towards his removal from office. It is one example of unadapted mentality of one man in technologies. Hope he change his views the soonest.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!