Don’t deal with cryptos: Kuwait Central Bank | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Don’t deal with cryptos: Kuwait Central Bank | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

The Central Bank of Kuwait has asked local banks and companies there not to deal with or create direct or indirect investments in digital currencies like Bitcoin or similar currencies.

An AlAyam report, quoting an unnamed source, said the Central Bank does not permit to finance any person or institution to invest in Bitcoin like currencies.

The source also confirmed that the Central Bank of Kuwait and Capital Markets Authority had instructed companies and bank “not to invest in these currencies.”

Some local banks have internal policies prohibiting dealing in virtual currencies, according to the Al-Anba newspaper.

Bitcoin is a cryptocurrency that was started in 2009 by an unknown person or group of people using the name Satoshi Nakamoto.

The price of bitcoin had hit an all-time high on Friday as the market value