Kurdistan Region Bans Cryptocurrency Trading Amid Regulatory Concerns

The Kurdistan Region's Interior Ministry has issued a directive banning cryptocurrency trading, effective immediately. The decision aims to protect consumers from market risks and ensure financial security.

The ban is part of the region's efforts to align with national policies on digital assets, which have been in place since 2017. The Central Bank of Iraq and the Kurdistan Region's Ministry of Finance have both supported the ban, citing concerns over unregulated digital currencies.

Authorities will take strict enforcement measures against violators, including identifying and closing offices engaging in cryptocurrency activities. Citizens are urged to avoid these transactions and seek legal avenues if they have lost funds.