Explore the latest developments concerning KRG Interior Ministry.
KRG Interior Ministry Bans Cryptocurrency Trading, Warns of Legal Action
KRG bans cryptocurrency and Forex trading, citing legal absence, fraud risks, and alignment with Iraq's long-standing policy against unregulated digital assets.
ERBIL (Kurdistan24) – The Kurdistan Region's Ministry of Interior of the issued a directive on Sunday prohibiting citizens and commercial entities from engaging in digital currency transactions and electronic financial speculation.
The KRG Interior Ministry said that these activities are legally forbidden, warning that immediate enforcement actions will be taken against violators operating within the region.
The ban formalizes the regional administration's stance against digital assets and speculative trading platforms.
According to the ministry statement, electronic currencies, including stablecoins such as USDT, and the broader "Forex" trading market lack any recognized legal framework or officially licensed companies in the Kurdistan Region and across Iraq.
Kurdistan Region government: Forex, crypto trading banned
Iraq draws students from 60 countries, opening 4th 'Study in Iraq' cycle
Iraqis protest in Baghdad, Basra, and Kurdistan Region over hiring freeze
The Kurdistan Region’s Interior Ministry on Sunday warned against trading in foreign exchange (Forex) and digital currencies, including USDT, saying such activities are “illegal and unlicensed” under Iraqi law.
In 2017, the Central Bank of Iraq formally banned cryptocurrency trading, citing concerns over fraud, market instability, and consumer protection. The ban prohibits banks, financial institutions, and payment service providers from dealing in digital assets.
Digital currency expert Hiwa Osman last year stated that around 90 to 95 percent of people trading in such services lose their money.
25Kg/h Snack Extruder Corn Rice Food Extrude Puffing Machine Twisted Hollow Stick Solid Crispy Popper Bulking Machine
KRG warns against trading with electronic currencies
Rudaw moderates all comments submitted on our website. We welcome comments which are relevant to the article and encourage further discussion about the issues that matter to you. We also welcome constructive criticism about Rudaw.
To be approved for publication, however, your comments must meet our community guidelines.
We will not tolerate the following: profanity, threats, personal attacks, vulgarity, abuse (such as sexism, racism, homophobia or xenophobia), or commercial or personal promotion.
Comments that do not meet our guidelines will be rejected. Comments are not edited – they are either approved or rejected.
For more detailed information, explore updates concerning KRG Interior Ministry.
0 Comments