How Bitcoin Fits Into Lebanon’s Banking Crisis

Coindesk | Jun 5, 2020 at 6:50 PM
  • Lebanon’s financial crisis has banks looking for alternative monetary policy and citizens scrambling for alternative banking services.
  • Social networks have essentially become grassroots financial networks without banking restrictions, relying on global currencies like dollars and bitcoin.
  • This plan would include wiping out the reserve capital at the central bank, the reserve capital at private banks, and a certain amount of deposits from the country’s wealthiest people.