Jordan bans Bitcoin trading

February 24, 2014 1:47 am

The Jordanian central bank has warned the public against the use of Bitcoin and said virtual currencies are not legal tender, Jordan Times has reported. The apex lender had issued a circular to all banks operating in the kingdom, currency exchange companies, financial companies and the payment service companies prohibiting them from dealing with virtual currencies, particularly in bitcoins. The central bank “seeks to protect citizens and the investors, by warning them that virtual currencies are not legal tender and there is no obligation on any central bank in the world or any government to exchange its value for real money issued by them nor backed by underlying international commodities or gold,” it said.