Some countries welcome cryptocurrencies, some are of two minds, and some ban it. Into that last group falls Kuwait:
DUBAI — Kuwait has banned all virtual asset transactions, investments and mining, according to an online statement released on Tuesday by the country’s Capital Markets Authority (CMA). [AL-Monitor]
It’s a little puzzling:
Based on these definition, this means that Kuwaiti residents are also banned from selling or buying non-fungible tokens, gaming tokens and other similar assets that are digital, decentralized and hold financial value. However, digital representations of paper currencies, securities and other financial assets are excluded from the ban, according to the CMA statement.
I’m not sure about the implications of the exception for digital representations of paper currencies. Perhaps that’s just so banks can continue to function.
