Kuwait Implements Comprehensive Ban On Cryptocurrencies: What You Need To Know
Portfolio Pulse from Murtuza Merchant
Kuwait's Capital Markets Authority (CMA) has issued a comprehensive ban on cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). The ban covers payments, investments, and mining of cryptocurrencies. The CMA also prohibited local regulators from granting licenses to firms offering virtual asset services. Securities and other financial instruments regulated by the Central Bank of Kuwait and the CMA are exempt from these prohibitions.
July 20, 2023 | 7:43 pm
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NEGATIVE IMPACT
The comprehensive ban on cryptocurrencies in Kuwait, including Bitcoin, could potentially decrease the demand for Bitcoin in the country, potentially impacting its price in the short term.
The ban on cryptocurrencies in Kuwait means that activities such as payments, investments, and mining of Bitcoin are prohibited. This could decrease the demand for Bitcoin in the country, potentially leading to a decrease in its price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The comprehensive ban on cryptocurrencies in Kuwait, including Ethereum, could potentially decrease the demand for Ethereum in the country, potentially impacting its price in the short term.
The ban on cryptocurrencies in Kuwait means that activities such as payments, investments, and mining of Ethereum are prohibited. This could decrease the demand for Ethereum in the country, potentially leading to a decrease in its price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100