Notice about the limit announced by the Central Bank and the possibility of delay in rial settlements

Dear friends of Nobitex, a few hours ago, the central bank, in a letter addressed to the banks, requested to limit the access of Nobitex and four other cryptocurrency platforms to the offline withdrawal banking services from 16:00 today, Monday, October 20, 1405. The implementation of this decision can delay or disrupt your Rial settlement and withdrawals. The restriction applied from [...] the notification about the restriction announced by the central bank and the possibility of delay in settlements

A few hours ago, in a letter addressed to the banks, the Central Bank requested to limit the access of Nobitex and four other cryptocurrency platforms to the offline withdrawal banking services starting at 16:00 today, Monday, October 20, 1405. The implementation of this decision can delay or disrupt your Rial settlement and withdrawals.

The restriction imposed by the central bank directly affects rial deposits and withdrawals, and currently there is no reliable alternative solution for making settlements, and traditional banking systems are not ready to implement the number of daily commitments at Nobitex level.

Nobitex objects to this decision and believes that no action with any justification should lead to restricting users' access to their property. Especially in the current economic situation where delay or disruption in access to assets can affect people's lives and financial obligations. We have asked the central bank and other related institutions to review this decision and prevent its consequences from being imposed on users.

Part of the pressures and restrictions imposed on Nobitex is due to our insistence on protecting the privacy of users and refraining from providing their information without clarifying the purpose of receiving information, the limits of access and the responsibility for protecting this data. The security of your information and privacy is a priority for us, and we believe that before providing continuous access to this information, it should be clear what data, for what purpose and to whom it is provided, and who is responsible for protecting it. Along with legal cooperation with the responsible authorities, we continue to protect your rights.

Another issue raised to apply this restriction is market activity hours; While Nobitex stopped and reopened the market according to the orders and announcements received from the relevant authorities. For this reason, we have objected to the assignment of violation in this regard and we present our documents for consideration.

According to the announced schedule, until today (20 October 1405) before 4:00 p.m., it is still possible to register a Riyal withdrawal request and send it through the bank settlement web service; Provided that the restrictions are not applied earlier than the announced time.

Your assets are kept safe in Nobitex as before. This command restricts the bank path of the settlement and does not change the balance or withdrawal of cryptocurrency. Other Nobitex services are available as usual.

According to the notification of the central bank, this restriction is considered for three days; However, due to bank processing schedules, holidays and pending requests, settlements may take time to complete after this period. As soon as the situation is clarified, we will share with you the schedule of settlements through official channels.

Nobitex capital is trust and transparency with users, and we are sorry for the worry and difficulty this decision may cause you.

Thank you for your patience and cooperation until these restrictions are removed.