The Central Bank of Jordan (CBJ) is currently looking into issuing a central bank digital currency (CBDC). CBJ governor Adel Al Sharkas also stated that in addition to introducing a digital currency, the country might allow crypto trading. However, the CBJ governor added that for that to take place, appropriate legislation needed first to take root.
“With regards to the plans to issue a Jordanian digital currency, a study is underway to develop a legal digital currency linked to Jordanian dinar. It is possible in the future to allow cryptocurrency trading, after enacting [the] legislation and regulations.”
Sharkas’ comments were made during one of the meetings dedicated to implementing digital currencies in Jordan. Furthermore, the CBJ governor’s comments also came on the heels of Khair Abu Salik’s warnings. The Economic and Investment Committee chairman of Jordan’s Lower House advised against the country dabbling into crypto.
Sharkas’ pointed out that the Jordanian government banned crypto trading to protect investors from ill-advised crypto schemes. However, the purpose of the new ongoing sessions was to deliberate on how best to implement crypto trading while protecting investors simultaneously.