Regulatory Alerts2021-03-31
Added · Updated
Circular Prohibiting Dealing in Cryptocurrencies Including Dagcoin
The Central Bank of Jordan prohibits all banks and financial companies operating in the Kingdom from dealing in cryptocurrencies, specifically Dagcoin. This prohibition covers buying, selling, exchanging, trading futures, and investing in funds related to these currencies for the benefit of the institutions or their customers. The directive reaffirms previous circulars issued in 2014 and 2018 regarding the ban on all forms of cryptocurrency transactions.
No.: 27/4/16361 Date: 27/3/1441 Hijri Corresponding to: 24/11/2019 Circular to all banks operating in the Kingdom and the financial companies subject to the supervision of the Central Bank of Jordan After Greetings, Recently, the phenomenon of promoting dealing in a cryptocurrency called Dagcoin has been observed, in addition to that there is a number of shops in the Kingdom accepting payment in this currency. Therefore, I confirm what was stated in our Circulars No. (1/1/5/2451) dated 20/2/2014 and No. (10/3/3777) dated 14/3/2018, regarding the prohibition of all forms of dealing in all types of cryptocurrencies, including the above currency, whether directly or indirectly. This shall include buying, selling or exchanging them, as well as dealing in futures contracts or investing in investment funds or index funds for these currencies, whether in the interest of banks or companies or for the benefit of customers. Respectfully, Governor Dr. Ziad Fariz