Cryptocurrency Transactions and Mining will be Banned in Kuwait.
20 Jul 2023, 16:03
Cryptocurrency Transactions and Mining will be Banned in Kuwait
Kuwait's Capital Markets Authority has signaled a commitment to a complete ban on cryptocurrency transactions. This information is available on the official website.
Kuwait has prohibited the use of crypto for payments or investment to combat money laundering and mining. The ban also covers the recognition of cryptocurrency as a decentralized currency.
The restrictions will not affect securities and financial instruments regulated by the Central Bank of Kuwait and the CMA. "Securities regulated by the Central Bank of Kuwait and other securities and financial instruments regulated by the Capital Markets Authority are excluded from this prohibition," the statement said.
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