Cryptocurrency law coming to Jordan by end of the year
According to reports, Jordan plans to finalize a law that will permit and regulate cryptocurrency transactions before the end of this year. Officials hope the move will attract investment and stimulate economic activity in the kingdom.
The Jordan Securities Commission (JSC) is drafting the new regulations. This comes immediately after the cabinet decided to lift the country’s ban on crypto trading last October.
JSC chairman Emad Abu Haltam said the forthcoming rules are intended to “provide a secure encrypted environment based on transparency and trust.”
He noted that the regulations will outline a clear framework for licensing brokers and trading activities, custody services, platform operations, and financial services related to the issuance and offering of virtual assets.
The standards will focus on strong technical readiness, sound governance, sufficient working capital, and compliance with anti-money laundering and counterterrorism financing requirements.
Jordan, like several other Arab nations, had previously prohibited cryptocurrency activity due to its high-risk nature and its potential to facilitate money laundering.
In January, the cabinet directed the JSC to develop a legal and regulatory structure with defined governance for handling virtual and digital assets within one year, after which the framework will be formally implemented.
