CBL warns that dealing in virtual currencies such as Bitcoin are illegal in Libya

By Sami Zaptia.

 (Logo: Tripoli CBL).

(Logo: Tripoli CBL).

London, 17 May 2018:

The Tripoli-based Central Bank of Libya (CBL) has warned that ‘‘virtual currencies’’ such as Bitcoin, are illegal in Libya and that there is no ‘‘legal protection’’ for those using them.

In a statement issued Tuesday, the CBL warned that virtual currencies could be used for illicit activities, money laundering and financing of terrorism.

It also pointed out that any financial activity within Libya, including dealing in virtual currencies, needs prior licencing from the CBL.

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