The governor of the Bank of Lebanon (BDL), Riad Salameh, said that the Bitcoin and other crypto-currencies are the products of “non-regulated” the use of which should be prohibited. He also said that digital currencies will be ineffective as national currencies, because they are only ” goods “.
For now, the BDL is not favourable to crypto-currencies
During the opening ceremony of the 7th Forum lebanese are the responsibility of companies, Riad Salameh told the participants that the BDL would prohibit the use of crypto-currencies through Lebanon because of their nature, resembling that of the goods. He added that the money would probably be digitized in the future, but not now. “Bitcoin is not currency but rather a commodity whose prices go up and down without any justification. This is the reason for which the BDL account prohibit the use of this currency on the lebanese market. Before thinking about a possible legalization in the future, it is important to first take the necessary measures and develop a system of protection against cybercrime “, he said.
Lebanon wants to launch its own digital currency
At the forum, Salameh has also announced the plan of the BDL to introduce its own digital currency. However, it has not revealed if the currency will be based on the technology Blockchain. It is possible that BDL uses other forms of technology to create the digital currency centralized in Lebanon, as is the case in other countries. Countries such as Ecuador and Sweden are studying the possible use of other technologies to create their own crypto-currency. Salameh has not provided schedule for the launch of this crypto-currency. It has also supported the fact that digital money will be ” available in the coming years “.
Source : Cointelegraph