Kuwait has a complete ban on crypto assets and their mining

The CMA, which is the Capital Markets Authority of Kuwait, reported that it adheres to a complete ban on almost all transactions and actions related to digital assets in the country. Such a message is published on their website.

What the regulator says

The measures used by the regulator are aimed at banning payments, investments and the extraction of digital assets. There is also a ban on local regulatory authorities to issue any licenses that would give permission to provide crypto asset services for commercial organizations.

At the same time, the ban does not apply to securities or other financial instruments regulated by the Central Bank of Kuwait or the CMA. The agency also urges to be careful and understand the risks that crypto assets carry.

The document also states that cryptocurrencies do not have a legal status. They are not supported by the government of at least some significant country. They also have no connection with other assets or issuing organizations. At the same time, the price is constantly formed from speculation.

The ministry noted that the introduced rules were created on the basis of measures related to the fight against money laundering and the financing of terrorist actions.

The GRIN4 ecosystem

We have created a bot to make money on crypto exchanges. You set the settings, and he trades 24/7. Manage all assets from one service: with your own hands or with the help of algorithmic trading. Anonymously. Simply. Stress-free.