In a statement on Tuesday, the CBE said that virtual currencies are not issued by the Central Bank, or any official authority, so they are not considered legal tender.
Trading using virtual currencies is a new method that has been introduced across the world more than two years ago.
CBE indicated in a statement, Sunday, the high risk involved in dealing in these currencies where it is dominated by instability and extreme volatility in the value of its prices.
That's a big change in a market worth about $120 billion where bitcoin worth several billions dollars are created every year.
Will Facebook be able to turn Libra into a global currency?
David Marcus, who oversees Facebook’s blockchain efforts, is expected to testify, according to a source in Washington familiar with the matter.
The crypto market, associated by many with the dark web, money laundering and the Wild West, is beginning to be discussed by financiers in the same breath as derivatives, hedging instruments and compliance.
The U.S. government seems determined to avoid at all costs that countries with which it does not have the best diplomatic relations, can develop a cryptocurrency.
Bitcoin slumped to a new 13-month low on Monday, with the biggest cryptocurrency touching $5173.23 on the Bitstamp platform BTC=BTSP.
For any form of money to work across large networks it requires trust in the stability of its value and in its ability to scale efficiently, the BIS said.
German Radoslav Albrecht has founded an online bank that allows clients to transfer loans anywhere in the world using Bitcoin.
A start-up company is issuing a gold-backed cryptocurrency, part of efforts to convince Muslims that investing in cryptocurrencies complies with their faith.
growing number of internet companies are banning cryptocurrency advertising, fearing reputational damage if their users are duped or left penniless.
The regulator said on Tuesday that it hopes to see South Korea normalize the virtual coin business in a self-regulatory environment.
After the Mt. Gox cryptocurrency exchange was stung by a half-billion dollar theft in 2014, Japanese regulators swung into action.
Bitcoin rallied from three-month lows below $6,000 in choppy trading on Tuesday.
Due the importance of FinTech in the 21st century, Egypt Today explains what Financial Technology is and how it can be used.
Bitcoin slid another 13 percent to below $6,000 on Tuesday, bringing the world’s best-known cryptocurrency’s losses to more than half since the start of 2018.
Bitcoin extended losses on Monday to slumped 10 percent on the day on back of concerns about a widening regulatory crackdown.
The risks are clear: digital currency investors have already lost billions from dozens of cryptocurrency hacks, technical errors and fraud.