UAE Central Bank warns against using 'digital currency'

in #bitcoin • 9 years ago

Dubai: The UAE Central Bank warned on Monday about the use of “digital coin”, saying it did not issue a license to allow the currency in the local market.!
he statement comes after Bitcoin, one of the cryptocurrency, hit a record high of $6,148 on Saturday. At 4.10 pm, Bitcoin traded at $5,899.81, down 1.46 per cent.

Bitcoin prices fell to a low of $3,000 in September, when Jamie Dimon, chief executive of JP Morgan called it a “fraud.”
The total market cap stood at $98 billion, equal to that of Kraft Heinz or Honeywell.
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9 years ago in #bitcoin by
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     9 years ago (edited)

    truth is that government want to rule over on its people and on their money and bitcoin is uncontrolable or noncentralised , thats why most of the govermnet officials will not accept it easily as it provides user a freedom and non control from its goverment

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     9 years ago 

    UAE has launched a crypto currency not a long ago though...called FARAD. Many banks and exchanges from UAE have already tied up with Ripple. So, it won't be long when they actually recognize the other cryptos.

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