Qatar Central Bank warns banks and financial institutions from dealing in cryptocurrency
28 February 2018
Qatar's Central Bank issued recently a circular to all banks and financial institutions operating in the State of Qatar warning them in dealing with Bitcoin currency or any other electronic currencies, adding that there are risks associated in dealing with this currency, because there is no obligation from any Central Bank or Government around the world to secure the value of this currency.
In order to ensure the safety of the banking system and the safety of the depositor’s money, Qatar Central Bank has prohibited all banks and financial institutions operating in the State of Qatar from dealing in this currency or exchanging it with any currencies, or open accounts for the purpose of dealing, or receive/send any money transfers for the purpose of buying/selling it.