Trading virtual assets through Doha Bank prohibited

  • 2 years   ago
According to a message sent by Doha Bank yesterday, dealing and trading in virtual assets and currencies such as Bitcoin has been prohibited and the bank does not permit such activities. 
In addition to this, using the bank account for sending or receiving any money transfers for the purpose of buying, selling or exchanging these virtual assets are also forbidden. 
This message was sent after the clear instructions from the Qatar Central Bank (QCB) primarily targeting bitcoins. 
Bitcoin, which is popularly known as the online money is completely done virtually on a smartphone or computer. This computer file is stored in a digital wallet app and can be sent to others and is used widely in Qatar for trading virtual assets.
With this prohibition, QCB has played a significant role in ensuring secured transactions in the region.