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Saudi CMA warns of trading electronic currencies

2018-02-12 06:34 am | Resource: News Section | No Views : 209

Saudi CMA warns of trading electronic currencies The Saudi Capital Market Authority (CMA) has warned investors against investing in electronic currencies because of high regulatory and market risks.
In a blog posting posted on its official Twitter website, the agency added that uncertainty over the way digital currencies are valued, as well as the difficulty of protecting investors because they are out of control.
It explained that the information available to investors on these currencies, very limited, and are not under the supervision of the Authority and control, which may cause them to cause large losses to investors and make them fall into fraud and fraud.
The warning comes in view of the proliferation of invitations and promotional offers to invest in digital currencies, and the emergence of websites and social media promoted.
And joined by the Saudi Commission for Governments and banks warned of trading in digital currencies.
The price of "Bitcoin" almost exceeded the threshold of $ 20 thousand dollars in late December 2017, and now the currency trading at $ 8060.78 dollars.

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