Regulatory Alerts2019-11-26
Added · Updated
Circular Regarding the Prohibition of Dagcoin and Cryptocurrency Transactions
The Central Bank of Jordan prohibits all banks and supervised financial companies in the Kingdom from dealing with Dagcoin and any other cryptocurrencies. This ban covers direct or indirect activities such as purchasing, selling, exchanging, trading futures, or investing in related funds for the benefit of the institutions or their clients. The directive reaffirms previous circulars issued in 2014 and 2018 regarding the total prohibition of cryptocurrency transactions.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Number: 1261/4/27 Date: 27/2/1441 AH Corresponding to: 26/11/2019 AD
Circular to all banks operating in the Kingdom and financial companies subject to the supervision and oversight of the Central Bank of Jordan
Greetings,
It has been observed recently the phenomenon of promoting trading in a cryptocurrency called Dagcoin, in addition to the existence of a number of commercial establishments in the Kingdom that accept payment in this currency.
Accordingly, I reaffirm what was stated in our circulars No. (1/5/2451) dated 20/2/2014 and No. (10/3/3777) dated 14/3/2018, regarding the prohibition of all forms of dealing with all types of cryptocurrencies, including the aforementioned currency, whether directly or indirectly, which includes purchasing, selling, exchanging, or dealing in futures (forward) contracts, or investing in investment funds or index funds related to these currencies, whether for the benefit of banks, companies, or on behalf of clients.
Please accept our highest respect,
The Governor Dr. Ziad Friez