According to Foresight News, Kuwait's main financial regulator, the Capital Market Authority (CMA), issued a notice on the regulation and issuance of virtual assets in the country. The notice stated that Kuwait "absolutely prohibits" the use of cryptocurrencies for payment, investment and mining.
The notice also prohibits local regulators from issuing any licenses that allow companies to provide virtual asset services as commercial business. Meanwhile, securities and other financial instruments regulated by the Central Bank of Kuwait and the CMA are not subject to the latest ban. In addition to the above ban, the CMA also asked users to be careful and pay attention to the risks associated with handling virtual assets. The regulator said that cryptocurrencies do not have legal status and are not issued or supported by any government.
