Egypt central bank not considering bitcoin adoption

Egypt’s central bank is not considering allowing banks to deal with bitcoins, the Central Bank of Egypt (CBE) said on Sunday.

CBE deputy governor Lobna Helal has denied reports that the central bank was studying allowing banks to deal with bitcoins, the controversial digital currency.

“For stability of the Egyptian banking system, the banks deal with the official currencies only, and never deal with any virtual currencies.” CBE deputy governor Gamal Negm said in the statement.