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Cryptopolitan 2019-08-20 17:30:57

Ministry of Finance of Saudi Arabia issues warning about virtual currencies

The Ministry of Finance of Saudi Arabia has just issued a statement where it warns the local population about investing, trading and using virtual currencies which include cryptocurrencies as well. The MOF says that the currencies are not supported by local financial institutions and therefore are not recognized as legal tender. The MOF also mentions that cryptocurrencies have been seen involved in fraudulent or scam activities multiple times and therefore do not hold any type of support from local central governments. The MOF especially wars against crypto Riyals which have recently found themselves on Saudi social media platforms and several

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