Qatar Bans All Cryptocurrency Trade

Information reaching us from the financial regulator of Qatar known as the Qatar Financial Center (QFC) has it that Qatar has banned all cryptocurrency trade.

This was made known by the center and it applies to all forms of digital cryptocurrency trade in the region.

According to a post by International Investment: “The QFC Regulatory Authority said in a statement that “Virtual Asset Services may not be conducted in or from the QFC at this time”. It specified that the ban includes “anything of value that acts as a substitute for currency, that can be digitally traded or transferred and can be used for payment or investment purposes”

Virtual Asset Services include exchange between virtual assets and fiat currencies; exchange between one or more forms of virtual assets; transfer of virtual assets; safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets; and participation in and provision of financial services related to an issuer’s offer and/or sale of a virtual asset. ”

We are praying for a better policy that favours cryptocurrency trade around the world.