The economic expert in the name of Antoine, Saturday, that the Central Bank of Iraq prevents the circulation of bitcoin, noting that the promoters are preparing “violators of the law.”
Antoine said that “the central bank is the official body that has the right to prevent or allow the circulation of Bitcoin,” noting that “the Iraqi Central prevented and still prevents them because it represents a loss to the Iraqi economy.”
He added that “bitcoin is subject to several setbacks and not only the Central Bank, but many foreign countries, because it represents a case of fraud on people.” He pointed out that “promoters to sell this currency in social networking sites are violating the law because it is a phenomenon of speculation in the Iraqi currency “He said.
Bitcoin is a virtual electronic currency that trades online only without a physical presence and is used for online purchases and supports payment using bitcoin cards or may convert to traditional currencies sometimes and therefore it involves several risks that may result from trading, especially with regard to electronic piracy and fraud Although there is no vogue within Iraq, the Central Bank supports the issuance of such uncles by not using them and subjecting them to the provisions of the Money Laundering Law No. (39) for the year 2015 and related laws in this regard.