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Egypt Today
The Egyptian Financial Supervisory Authority (EFSA) has warned citizens against trading in Bitcoin or other cryptocurrencies on Wednesday. The warning includes “taking part in any Bitcoin or cryptocurrency subscription operations aiming at collecting money from citizens”.
“Trading in bitcoin constitutes trickery to the official monetary system and its regulations”, the EFSA said in a statement.
The EFSA added, it “did not give permission to any department to legalise the use of such coins”, stressing that “trading with cryptocurrencies to make profits is punishable by law”.
“The Egyptian stock exchange and the bourse of small and medium size enterprises known as ‘Nile bourse’ are the only legal markets for securities transaction”, the statement noted.
The EFSA appealed to investors “not to trade in illegal coins in order to protect their investments and not to fall prey to hackers”.
