The Central Bank of Lebanon will issue the state cryptocurrency in 2021

The Central Bank of Lebanon will issue the state cryptocurrency in 2021

According to the chairman of the Central Bank of Lebanon, the regulator will issue its own cryptocurrency next year to strengthen confidence in the banking sector.

The chairman of the Central Bank of Lebanon, Riad Salameh, said that the release of the state cryptocurrency will help the transition to a system of non-cash payments, as well as strengthen confidence in the banking sector. In addition, he called on banks to start restructuring, including changing the capital structure by 20%.

“Lebanon does not have any natural resources, and we must keep gold, because it is an asset that can be sold in foreign markets if we face an inevitable and fatal crisis,” Salame said.

Recall that back in 2017, Salame called
bitcoin is an “unregulated commodity” and has called for its use to be banned. In October last year, a well-known American economist and trader Nassim Taleb (Nassim Taleb) said that the closure of banks in Lebanon could lead to a massive transition to cryptocurrencies, and this year advised
citizens of the country can use cryptocurrencies

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