Qatar central bank has prohibited trading on virtual currency Bitcoin
Bitcoin has become popular in world, with its value rocketing to sky,
and was catching eyes of the Qatari people & residents, Qatar Central bank had moved to prohibit its usage
The circular warned penalties against voilation
The QCB said its an illegal currency as there is no commitment from any bank or government in the world
“This cryptocurrency is highly volatile and can be used for financial crimes and electronic hacking and risks loss of value because there’re no guarantors or assets,” the QCB added.
In Past, banks in UK and the USA had banned the use of credit cards to buy Bitcoin and other sort of cryptocurrencies, fearing a plunge in their value will leave customers unable to repay their debts.
Source- Qatar Tribune