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Egyptian Regulators Kill Rumor Domestic Banks Might Handle Bitcoin
Egypt's central bank recently shot down rumors that it would allow banks in the country to handle cryptocurrencies like bitcoin.
Автор Wolfie Zhao
Egypt's central bank recently shot down rumors that may move to allow banks in the country to handle cryptocurrencies like bitcoin.
Those rumors first appeared on social media, according to reports, prompting the Central Bank of Egypt, through deputy governor Gamal Negm, to deny them.
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"For stability of the Egyptian banking system, the banks deal with the official currencies only, and never deal with any virtual currencies," Negm told Egyptian economics magazine Amwal Al Ghad last month. Washington, DC-based publication Al-Monitor, which covers Egyptian news, reported on the situation yesterday.
It's a development that comes as more countries weigh legal frameworks to establish some kind of standing for the technology under domestic law.
To date, Japan has emerged as an early adopter of new rules that establish bitcoin as a kind of legal payment method, though countries like India and Russia, among others, have been pursuing such frameworks.
Egypt's, like other parts of the region, has a nascent cryptocurrency market, serviced by startups such as BitOasis as well as local exchangers, according to LocalBitcoins.
Egypt flag image via Shutterstock
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
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Dogecoin, PEPE rocket as much as 25% as 2026 starts with a bang for memecoins
The broader meme coin market is heating up, with CoinGecko's GMCI Meme Index showing a market value of $33.8 billion and a trading volume of $5.9 billion.
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- Dogecoin and Pepe led a significant meme coin rally, with Dogecoin rising 11% and Pepe surging 17% in a single day.
- The broader meme coin market is heating up, with CoinGecko's GMCI Meme Index showing a market value of $33.8 billion and a trading volume of $5.9 billion.
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