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As early as 2017, the country's central bank issued a notification that put cryptocurrency under the illegal bracket. In saudi arabia, following a series of websites and social media accounts promoting cryptocurrencies such as bitcoin and ethereum, among others, a special committee issued a statement reminding citizens that trading in cryptocurrencies is illegal. A group of saudi arabian financial watchdogs have stated that cryptocurrency trading is explicitly illegal in the nation. Citing negative consequences and high risk, the government believes it must protect subjects from themselves. This reminder comes following the recent emergence of virtual currency trading promotions in the arab nation.
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The statement, which was released aug.
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