Bitcoin is considered the first encrypted digital currency launched in the world. Therefore, it is the most famous in the financial markets and the highest in terms of price and market value. Therefore, some countries have begun to move towards recognizing Bitcoin as a legal currency that can be used as a means of payment in financial transactions that are conducted electronically. However, Arab countries still maintain their position on preventing the use of these digital currencies, whether Bitcoin or others, in official financial transactions. Some countries are content to allow citizens to trade them in financial markets.
هل تداول البيتكوين ممنوع في العراق
In this context, the Central Bank of Iraq issued a decision to ban the use of electronic wallets in speculation and trading in all types of encrypted digital currencies. The bank called on all financial institutions and banks to educate customers and warn them against trading in virtual encrypted currencies, with the aim of ensuring that the ban decision is implemented in the best possible way in light of the implementation of laws related to combating the financing of terrorism and money laundering, which are closely related to the use of encrypted digital currencies.