Oman regulator cautions against use of cryptocurrency
The Central Bank of Oman has cautioned the public in the country about the use of digital or cryptocurrencies. It feels the people should be wary of using these systems because there are no policies or guidelines to regulate such currencies. The board of the central bank, at a recent meeting, reviewed the recent developments within the fintech space and discussed its effects on Oman’s financial and banking sector. The board also said regular follow ups would be taken in order to ensure the right technologies are adopted. It said in a statement there are no policies or guidelines to regulate digital or cryptocurrencies, and hence, the public should be cautious when dealing with such currencies.