Saudi Arabia's special governmental committee for awareness on dealing with unauthorised securities activities in the foreign exchange market (Forex) has warned that transactions and investments using cryptocurrencies is prohibited, reported local daily, Arab News.
The committee said that such transactions could have ‘negative consequences’ on dealers because of the risks associated with such dealings that are outside the Kingdom’s monitoring umbrella.
The committee warned citizens and residents not to engage in virtual currency transactions following claims on websites that promote investments in such currencies that they are authorised by official authorities in the Kingdom.
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