CAIRO — Responding to rumors that the Central Bank of Egypt might allow trading in virtual currencies such as bitcoin, banking officials voiced blunt denials, insisting just the opposite.

Several media and social networking websites circulated reports June 16 and 17 alleging that the Central Bank of Egypt is considering such a move. But Gamal Negm, a central bank deputy governor, announced June 17 that the bank categorically refuses to accept virtual currencies and only recognizes official currencies. Lubna Hilal, another deputy governor at the bank, on June 24 denied any reports that the bank is even contemplating allowing bitcoin use.

Bitcoin was introduced in 2009. As virtual banks have been established for the highly volatile currency, demand has risen — along with concerns about its use by terrorists because of its anonymity. Bitcoin accounts can be accessed only by their owners, though accounts have been hacked. The currency is quickly and easily transferred when compared to international transactions completed via conventional banks and with conventional currencies.

The legality and regulation of bitcoin trading is changing throughout the world. Most countries do not have clear legislation for bitcoin circulation, as it is a modern phenomenon. On July 4, Saudi Arabia issued a warning noting the possible negative consequences of using an unregulated currency. On the other hand, Russia announced in May it will legalize bitcoin.