Regulatory Alerts2018-02-12
Prohibition of Electronic Money
The Capital Markets Authority and Banque du Liban prohibit licensed institutions from issuing, marketing, and trading electronic money, including Bitcoin. This restriction addresses critical risks such as unregulated platforms, lack of central bank guarantees, high volatility, susceptibility to money laundering and terrorism financing, and irreversible unauthorized transactions. The authority additionally warns the public against purchasing or using electronic money, with the announcement taking immediate effect upon publication in the Official Gazette.
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