Binance is now blocked from Egypt
Binance is now blocked from Egypt
Hello It is regrettable that the central bank governor’s decision today sought to block websites related to the exchange of cryptocurrencies
After the referendum of the deputies about having listened to the statement made by the Governor of the Central Bank, Tariq Amer, to present the new draft law submitted by the government to issue a new law for the central bank and the banking system, the committee announced, during its meeting, its approval of a draft law to issue the law of the central bank and the banking system, in principle , Provided that the articles of the bill will be discussed in detail in subsequent meetings
Article (206) of the draft law on the Central Bank and the banking system prohibits the creation or operation of platforms for the issuance or circulation of cryptocurrencies or digital money, or their promotion without obtaining a license from the Board of Directors of the Central Bank of Egypt, in accordance with the rules and procedures that it determines, and the draft law defines money Electronic as (monetary value, denominated in the Egyptian pound or one of the currencies issued by the official currency-issuing authorities, due to the licensee to issue it, and it is stored electronically and accepted as a method of payment
Sources : youm7
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so it seems that it will be "put on pause" until law is drafted and put into effect then they can apply to become "government sanctioned exchange". interesting, i cant decide wether this is a good thing or a bad thing. at least its only temporary