Saudi Arabia Official issues a statement saying that cryptocurrency trading are illegal in the kingdom.
What do you think about this decision of the Saudi Arabian cryptocurrency trading becoming illegal?
As a trader, I don’t appreciate this kind of decision; but I see many counties are till now against the Crypto; even on the Forex market. That’s really unfortunate.
There could be many reasons for that decision. What I’ve heard is that “the FMA does not supervise or regulate virtual currencies” which may be part of the reasoning. Of course Saudi Arabian traders may disagree with the decision because of the money generated by Cryptos.