Libya Central Bank: Bitcoin illegal

May 16, 2018

The Central Bank of Libya (CBL) said virtual currency such as Bitcoin is illegal in Libya and those who use it cannot be protected by the Libyan law.

CBL warned Tuesday all Libyans including companies of the security perils of using the virtual currency, saying it could be used in crimes, fusing terrorism and money laundering.

It added that such a usage that involves virtual currency shall be permitted by the CBL.

libyaobserver