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The ministry of finance of saudi arabia has warned citizens in the country, recalling that the use of cryptocurrency is not yet legal. Media reports indicate that saudi arabia has been working on its own cryptocurrency for a while. Specialists of both countries will engage in the development of cryptocurrency. The uae and saudi arabia have unveiled the name of their joint national crypto which is to be called 'aber'. In saudi arabia, following a series of websites and social media accounts promoting cryptocurrencies such as bitcoin and ethereum, among others, a special committee issued a statement reminding citizens that trading in cryptocurrencies is illegal.
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Kingdom of saudi arabia regulators issued a statement this week through its monetary authority.
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The statement was made after several recent digital currency trading promotions started appearing in the arab state. A new alert the authorities in saudi arabia have been working on issues such as cryptocurrency and blockchain for some time now. .university, saudi arabia, member of the accounting and auditing organization for islamic financial institutions governance and ethics board (ageb) sharia scholars need to have a comprehensive understanding and an islamic legal characterization of cryptocurrencies before issuing any fatwa or. Its not legal or illegal, there are just warnings against it because it fluctuates in value, and there are a lot of scam companies that are targeting saudis. Citing negative consequences and high risk, the government believes it must protect subjects from themselves.
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Kingdom of saudi arabia regulators issued a statement this week through its monetary authority.
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