A draft law of the Central Bank of Egypt or a cryptocurrency-related activity requires a license

According to Cointelegraph, on May 28, the Egyptian Independent reported that the new banking law drafted for the Central Bank of Egypt (CBE) would mandate that a license must be obtained before the creation, promotion or operation of the cryptocurrency platform. The Independent quoted an official source as saying that if the draft bill is passed, it will also authorize the CBE board of directors and issue rules for the country's cryptocurrency transactions and processing.