Broken representation of the Bitcoin virtual currency, placed on a monitor that displays stock graph and binary codes, are seen in this illustration picture, December 21, 2017 - REUTERS/Dado Ruvic/Illustration
CAIRO - 26 May 2021: The Egyptian Financial Supervisory Authority (EFSA) has warned citizens against trading in bitcoin or taking part in any bitcoin subscription operations aiming at collecting money from citizens.
In a statement Wednesday, EFSA warned that trading in bitcoin constitutes trickery to the official monetary system and its regulations.
It added that it did not give permissions to any quarter to legalize the use of such coins, pointing out that a call by some investors to deal with such coins to make profits is part of deception which is punishable by law.
It added that the Egyptian stock exchange and the bourse of small and medium enterprises known as Nile bourse are the only legal markets for securities transaction.
It appealed to investors not to trade in illegal coins in order to protect their investments and not to fall prey to hackers.