Qatar’s financial regulator (QFC) has banned operations with cryptocurrencies in the country, reports International investment.
The QFC’s decree states: “Services related to virtual assets cannot be provided in Qatar’s financial center.” The ban applies to “anything valuable that can serve as a substitute for currency, bargain or digitally transmitted and be used for payments or investments.”
Virtual Asset Services Services include:
- trade in crypto assets in pairs with fiat currency;
- exchange of virtual assets among themselves;
- asset transfer;
- storage and / or asset management
- other services related to virtual assets.
The reasons for the ban are unknown.
In 2018, representatives of the Central Bank of Qatar declaredthat cryptocurrencies are extremely volatile and can be used in illegal activities.
Recall that earlier, the authorities of Uzbekistan left the citizens the opportunity to exclusively transactions for the sale of crypto assets.
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