Why SAUDI ARABIA bans the Bitcoin Trading

in #bitcoin • 6 years ago

A governmental committee comprised of Saudi Arabian regulators has issued a statement clarifying that cryptocurrency trading is illegal in the kingdom.

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According to a statement issued Sunday, the standing committee warned against trading in cryptocurrencies due to "negative consequences and high risks on traders as they are out of government supervision."

It went on to clarify:

"The committee assured that virtual currency including, for example but not limited to, the Bitcoins are illegal in the kingdom and no parties or individuals are licensed for such practices."

6 years ago in #bitcoin by
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