Regulatory Alerts2021-01-01
Circular No. 151/2021 on Virtual Currencies
The Palestine Monetary Authority issued Circular No. 151/2021 to explicitly prohibit all specialized lending institutions operating in Palestine from engaging in any form of transaction involving virtual currencies of any kind. Building on previous regulations, the directive aims to protect citizens' funds from fraud and mitigate risks associated with the use of digital assets for illegal activities. This blanket ban reinforces the regulator's stance on maintaining financial stability and preventing illicit financial flows through unregulated digital payment methods.
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