Kuwait Enforces Absolute Ban on Cryptocurrencies

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Published on July 25, 2023 5:29:14 AM ● Video Link: https://www.youtube.com/watch?v=MzuSRqODLKM

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In a significant move, Kuwait, the Gulf state, has imposed an absolute ban on all activities related to cryptocurrencies, including popular ones like Bitcoin, Ethereum, and Dogecoin. The ban, announced by the Capital Markets Authority (CMA), the country's principal financial regulator, on July 18, extends to cryptocurrency mining, investments, and payments.

0:00 Intro
0:11 The Announcement
0:24 The Ban
0:48 Local News
1:04 Outro

This marks a notable shift in Kuwait's stance on cryptocurrencies, which was previously known as one of the world's cheapest places for Bitcoin mining due to its subsidized electricity. The immediate ban also prohibits local regulators from issuing licenses to firms offering commercial virtual asset services. #KuwaitCryptocurrencyBan #CryptoRegulation #FinancialStability #BitcoinBan #CryptocurrencyBan #VirtualAssets #CryptocurrencyRegulation #KuwaitFinance #CryptoPolicy #BlockchainBan