{"id":22431,"date":"2023-07-20T16:11:59","date_gmt":"2023-07-20T16:11:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/kuwait-bans-all-crypto-activities-including-mining\/"},"modified":"2023-07-20T16:11:59","modified_gmt":"2023-07-20T16:11:59","slug":"kuwait-bans-all-crypto-activities-including-mining","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/kuwait-bans-all-crypto-activities-including-mining\/","title":{"rendered":"Kuwait bans all crypto activities including mining"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1689865279772-745df4f4-b7d1-4a97-95a1-a57aa0c23805-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1689865279772-745df4f4-b7d1-4a97-95a1-a57aa0c23805-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1689865279772-745df4f4-b7d1-4a97-95a1-a57aa0c23805-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1689865279772-745df4f4-b7d1-4a97-95a1-a57aa0c23805-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>After the July 19 circular, it is illegal to engage in any cryptocurrency activities in Kuwait.<\/li>\n<li>Kuwait has joined Thailand, Indonesia, and Turkey to ban crypto activities.<\/li>\n<li>Violators are to face penalties as stipulated in Kuwait\u2019s AML and terrorist financing laws.<\/li>\n<\/ul>\n<p>Kuwait\u2019s financial watchdog, the Central Markets Authority (CMA), issued a circular on July 19 declaring that all cryptocurrency activities including <a href=\"https:\/\/coinjournal.net\/cryptocurrencies\/invest\/\">crypto investment<\/a>, crypto payments, and crypto mining as described <a href=\"https:\/\/coinjournal.net\/cryptocurrencies\/mine\/\">here<\/a> were illegal in the Middle Eastern country.<\/p>\n<p>The CMA also banned local regulators from granting licences to anyone attempting to \u201cprovide cryptocurrency services as a commercial business.\u201d<\/p>\n<h2>Tough penalties for violators<\/h2>\n<p>The nation\u2019s anti-money laundering and terrorist financing laws carry harsh punishments, the financial regulator warned. The circular made it clear that \u201csecurities regulated by the Central Bank of Kuwait and other securities and financial instruments regulated by the Capital Markets Authority\u201d are exempt from the prohibitions.<\/p>\n<p>In addition to forbidding cryptocurrency-related activities within the nation, the Kuwaiti regulator informed clients of the dangers posed by cryptocurrencies. \u201cThey do not carry a legal status and are not issued or supported,\u201d it declared.<\/p>\n<p>Kuwait has joined the list of nations like Thailand, Indonesia, and Turkey that forbid accepting cryptocurrency payments.<\/p>\n<p>Kuwait\u2019s move to ban cryptocurrencies comes after the National Committee for Combating Money Laundering and the Financing of Terrorism concluded its study that aimed at implementing Recommendation 15 of the International Requirements of the Financial Action Task Force (FATF). However, it is essential to note that the FATF does not mandate that nations outlaw cryptocurrency.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/kuwait-bans-all-crypto-activities-including-mining\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) After the July 19 circular, it is illegal to engage in any cryptocurrency activities in Kuwait. Kuwait has joined Thailand, Indonesia, and Turkey to ban crypto activities. Violators are to face penalties as stipulated in Kuwait\u2019s AML and terrorist financing laws. Kuwait\u2019s financial [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":22432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22431"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22431"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22432"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}