Lebanese using bitcoin to move money in and out of the country

Lebanese people are increasingly using bitcoin, and other virtual currencies, to move money in and out of the country, amid the worst economic and financial crisessince the end of the civil war in 1990.Confidence in Lebanese banks has slumped since anti-government protests swept the country in October 2019, with banks introducing informal capital controls which limit weekly withdrawals.Banks have also limited “international spending” to prevent the flight of capitalfrom Lebanon, though according to Parliamentary Speaker Nabih Berri, owners of five large banks transferred $2.3 billion of “perso…

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