Qatar has issued a ban on all crypto-related services, essentially blocking one of the most crypto-friendly economies. The QFC Regulatory Authority announced that all “virtual asset services” are not to be conducted at this time.
Qatar Wants to Crack Down on Alternative Value Transfer Channels (also Crypto)
The ban arrives just days after US strikes against Iran killed General Qasem Soleimani, sparking fears of further instability in the region.
Qatar has been hawkish on Bitcoin (BTC), banning local banks from dealing in virtual asset operations. But now, the ban has been extended to even cover peer-to-peer transactions in quasi-money or money substitutes.
The local authority aims to block “anything of value that acts as a substitute for currency, that can be digitally traded or transferred and can be used for payment or…
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