Regulatory Alerts2017-01-01
Circular No. 60 (2017) on Virtual Currencies
The Palestine Monetary Authority issued Circular No. 60 (2017) to prohibit all specialized lending institutions operating in Palestine from engaging in any form of transactions involving virtual currencies, particularly Bitcoin. This mandate is grounded in the PMA Law No. 2 of 1997 and aims to preserve a stable financial system and protect depositor funds. The prohibition applies comprehensively to all financial dealings with digital assets until further regulatory guidance is provided.
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