The State Committee, consisting of representatives of the regulators of Saudi Arabia and other countries of the Middle East, issued a statement warning of the illegal trade in cryptocurrencies. The reason for the ban participants of the committee called “negative consequences and high risks for traders.”
The permanent committee to raise awareness of transactions with unregistered securities in the markets of conversion operations includes representatives of the five regulators of the countries of the Middle East. In particular, the committee included representatives of the local Money Agency and the Office of Capital Markets.
It is reported that the new structure will not only oversee the securities market, but also inform the relevant services about the facts of working with virtual currencies in order to prevent public access to these assets.