CBI decides to ban cards and electronic wallets for speculation and trading in digital currencies
March 30, 2022
CBI decides to ban cards and electronic wallets for speculation and trading in digital currenciesToday, Wednesday, the Central Bank of Iraq decided to ban the use of cards and electronic wallets for 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. To ensure the optimal application of the due diligence procedures referred to in the Anti-Money Laundering and Countering Financing of Terrorism 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 significant risks associated with these currencies and their lack of any legal, regulatory, or technical controls or legislation in Iraq.Central Bank of IraqMedia Office30 Mar 2022
