Oman reg­u­la­tor cau­tions against use of cryp­tocur­rency

Banking Frontiers - - Banking In The Gulf -

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.

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