Regulatory Alerts2021-01-01
Circular No. 141/2021: Virtual Currencies
The Palestine Monetary Authority issued Circular No. 141/2021 to specialized lending institutions operating in Palestine. The directive explicitly reiterates the prohibition of engaging in any form of transaction or dealing with virtual currencies of all kinds. This measure aims to protect citizens' funds from fraud and mitigate risks associated with the use of these assets for illegal activities and operations.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (141/2021)
To all specialized lending institutions operating in Palestine
Date: Thursday, July 29, 2021
Subject: Virtual Currencies
In reference to Palestine Monetary Authority Circular No. (60/2017), and in order to safeguard citizens' funds and prevent them from fraud, as well as to mitigate the risks of these currencies being used for illegal activities and operations, we hereby reiterate the prohibition of dealing in any form whatsoever with virtual currencies of all kinds.
Supervision Group
Palestine Monetary Authority
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