🇸🇦 Saudi Arabia: crypto trading is "illegal in the kingdom"

In a statement published by the Saudi Arabian Monetary Authority (SAMA) – the sovereign Arab state’s defacto central bank – a governmental committee declared it was against trading of cryptocurrencies. The reasoning is that crypto trading has negative consequences and high risks on traders as they are out of government supervision. The committee assured that virtual currency is illegal in the kingdom and no parties or individuals are licensed for such practices.

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