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Samson » March 30th, 2022

The Central Bank decides to prevent the use of cards and electronic wallets for the purpose of speculation and trading in digital currencies

30th March, 2022

Today, Wednesday, the Central Bank of Iraq decided to ban the use of cards and electronic wallets for the purpose of speculation and trading in digital currencies of all kinds.

The Central Bank of Iraq called on all authorized banks and non-bank financial institutions to educate customers and warn them of the risks of trading in digital, encrypted and virtual currencies, in order to ensure the optimal application of the due diligence procedures referred to in the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015 and the instructions issued thereunder.

It is noteworthy that the Central Bank of Iraq, on 11/11/2021, warned against dealing with digital currencies, given the great risks associated with these currencies and their lack of any legal, regulatory or technical controls or legislation in Iraq. 

Central Bank of Iraq  information Office 

30-March-2022   LINK

Source: Dinar Recaps

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