Kuwait, one of the pioneering countries of the Middle East, has banned almost all transactions with cryptocurrencies, including Bitcoin (BTC).
The Kuwait Capital Markets Authority (CMA) has issued a circular on the supervision and issuance of virtual assets in the country. Generally across the country payments, investments And cryptocurrency mining to transactions involving cryptocurrencies, including banned.
In this context, bitcoin all cryptocurrencies, including investment And means of payment use is prohibited. With the decision of the institution, the basic usage areas of cryptocurrencies and transactions absolute prohibition has confirmed.
With the said ban, a regulation by the Central Bank of Kuwait and the CMA securities And other financial instruments It was stated that they were excluded from the last bans. local regulators licensing crypto companies well this was generally banned in line with it.
CMA made the following harsh statements about the cryptocurrency market:
Cryptocurrencies are not tied to any particular asset or issuer, and the prices of these assets are always driven by speculation that exposes them to a sharp decline.
Those who do not comply with these bans on cryptocurrencies Anti-Money Laundering It was emphasized that it would be equated with violating the laws.