Regulatory Alerts2018-02-14
Added · Updated
Circular on the Prohibition of Dealing with Virtual Currencies
The Central Bank of Jordan reaffirms the prohibition on all forms of dealing with virtual currencies, including Bitcoin, Ethereum, and Ripple, for banks, financial companies, exchange companies, payment card companies, and electronic payment and transfer companies. The directive explicitly bans direct or indirect activities such as purchasing, selling, exchanging, trading in futures contracts, or investing in related funds for the benefit of these entities or their clients. This circular confirms the continued validity of the ban originally established in 2014.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Reference No.: 3/10/2777 Date: 26/6/1439 AH Corresponding to: 14/2/2018 AD
Circular to Banks, Financial Companies, Exchange Companies, Payment Card Companies, and Electronic Payment and Transfer Companies
Greetings,
Further to our circular No. (1/1/2451) dated 20/2/2014 regarding the prohibition of dealing with the virtual currency Bitcoin.
We kindly inform you of the continued validity of the prohibition on dealing with this currency, which includes all other virtual currencies, such as but not limited to (Ethereum, Ripple), among others. Additionally, all forms of dealing with these currencies are prohibited, whether directly or indirectly, including purchasing, selling, exchanging, dealing in futures (forward) contracts, or investing in investment funds or index funds specific to these currencies, whether for the benefit of the Bank, the Companies, or for the benefit of clients.
Please accept our highest regards,
The Governor Dr. Ziad Fries