Last fall, the anti-corruption Committee established in Saudi Arabia to investigate the crimes of money laundering, was arrested by chief criticism of Bitcoin in the country. We are talking about the grandson of the founder of the state of al-Walid bin Talala who had just called the first cryptocurrency senseless and predicted the imminent collapse of the coin.
Despite this, Saudi Arabia remains the opponents of the idea of cryptocurrency. Now the government banned trade with digital money on its territory. This writes NewsBTC.
How governments regulate the crypt
The decision adopted by the Agency of monetary circulation in Saudi Arabia and the Office of capital markets of Saudi Arabia. The reason for the ban on trade cryptocurrency officials call a “high probability of negative consequences” of the turnover of such assets for citizens and the economy.
The government warns all its citizens that Bitcoin and other cryptocurrencies are outlawed in the Kingdom, and obtaining a license to conduct any operations with them is impossible.
The Saudi authorities have not said what punishment is expected for cryptocurrency trading. At the time of this writing, the majority of local kryptomere continued its activities. On the sites of some of the trading platforms stated that their services officially sanctioned by the respective authorities.
In addition, services for Saudi nationals still have the middle East and BitOasis exchange Paxful. Let’s hope that the ban will be fictitious, and trades coins in the country will continue. Unnecessary criticism of a fallen market to anything.
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