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The Central Bank warns against dealing with digital currencies
- Time: 11/11/2021 12:04:55
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{Economic: Al Furat News} The Central Bank of Iraq warned against dealing in digital currencies.
A statement by Al-Furat News, a copy of it, stated: "The Central Bank of Iraq is closely following the transactions in the digital, encrypted and virtual currency market, given the great risks associated with these currencies and their failure to be subject to any legal, regulatory or technical controls or legislation in Iraq."
He added, "In order to avoid any negative repercussions resulting from dealing with these currencies, which have high volatility and speculation in them, the Central Bank of Iraq warns against using them, and does not guarantee such currencies and does not provide legal protection for those who deal in them and has not granted a license to any digital currency currently encrypted."
It is noteworthy that central banks around the world are working on developing or exploring digital currencies, after the emergence and spread of cryptocurrencies such as Bitcoin.
China, for example, is at the forefront of this race, and is in the process of testing the digital yuan in major cities such as Beijing, Shanghai and Shenzhen.
[You must be registered and logged in to see this link.]
{Economic: Al Furat News} The Central Bank of Iraq warned against dealing in digital currencies.
A statement by Al-Furat News, a copy of it, stated: "The Central Bank of Iraq is closely following the transactions in the digital, encrypted and virtual currency market, given the great risks associated with these currencies and their failure to be subject to any legal, regulatory or technical controls or legislation in Iraq."
He added, "In order to avoid any negative repercussions resulting from dealing with these currencies, which have high volatility and speculation in them, the Central Bank of Iraq warns against using them, and does not guarantee such currencies and does not provide legal protection for those who deal in them and has not granted a license to any digital currency currently encrypted."
It is noteworthy that central banks around the world are working on developing or exploring digital currencies, after the emergence and spread of cryptocurrencies such as Bitcoin.
China, for example, is at the forefront of this race, and is in the process of testing the digital yuan in major cities such as Beijing, Shanghai and Shenzhen.
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