Media: Qatar authorities banned operations with bitcoin and other cryptocurrencies

The Qatar Financial Regulator (QFC) has banned transactions with cryptocurrencies in the country, reports InternationalInvestment.

The QFC has said: “Services related to virtual assets cannot be provided on the territory of the Qatar financial center.” The ban applies to "anything valuable that can serve as a substitute for currency, be traded or transmitted digitally and used for payments or investments."

Virtual Asset Services Services include:

• trade in crypto assets in pairs with fiat currency;
• exchange of virtual assets among themselves;
• asset transfer;
• storage and / or asset management
• other services related to virtual assets.

The reasons for the ban are unknown.

In 2018, representatives of the Central Bank of Qatar said that cryptocurrencies are extremely volatile and can be used in illegal activities.

Recall that earlier, the authorities of Uzbekistan left the country's citizens the opportunity to carry out exclusively transactions for the sale of crypto assets.