Regulatory Alerts2017-01-01
Palestine Monetary Authority Circular No. 61/2017 on Virtual Currencies
The Palestine Monetary Authority issued Circular No. 61/2017 to prohibit all exchange offices and companies operating in Palestine from dealing with virtual currencies, specifically Bitcoin, in any form. This ban encompasses exchanging virtual currencies for fiat money, processing related financial transfers, and engaging in any other financial transactions involving these assets. The directive is issued under the Authority Law No. 2 of 1997 to maintain a stable and robust financial system and protect depositors' funds.
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