The Central Bank of Oman (CBO) has warned citizens and residents of the âÂÂhigh risksâ of using cryptocurrencies in a statement issued through the Oman News Agency.
- The CBO said crypto assets are âÂÂfraught with high risks due to the fluctuation of their value significantly and the risks of being used for electronic piracy and fraud.âÂÂ
- The warning, reported by the Times of Oman Tuesday, specifically highlighted the risks of investing in dagcoin, a cryptocurrency that the BBC recently said in a podcast has seen an influx of promoters from accused Ponzi scheme OneCoin.
- JordanâÂÂs central bank issued a similar warning mentioning dagcoin last year.
- The Oman central bank further clarified that it has not issued any licenses for the trading of cryptocurrencies and that cryptocurrencies are not guaranteed in the Gulf state as money.
- âÂÂAnyone who deals in these cryptocurrencies, ⦠does so on his own responsibility,â reads the statement.
Also read: OneCoin Investors Allege BNY Mellon Aided $4B Fraud
Related Stories
- Ripple Chairman Says Firm Could Leave US if Regulatory Environment DoesnâÂÂt Change
- Israeli Government Reportedly Investigating Unsuccessful Hack Targeting Crypto CEOs
- US-Regulated Bitcoin Derivatives Market Bitnomial Raises $11.6M in Electric Capital-led Series B
- CBDC Design Needs to Address Risk to Users, Says Bank of Canada
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.