Trading in a pet or other digital currency is illegal
So, in SA you're not allowed to sell your dog or cat?
The world we live in...
Dubai says strong, because it believes in the potential of the technology and they have begun its use on the logistics industry. Countries that have been restricting the use of bitcoin will understand the need and will allow its use.
While Dubai was very open and as compare to other Muslim countries in the Middle East. The country is already rich as f**k, but it doesn't mean they should stop their forward thinking.
Should I mention Dubai is a city and NOT a country? I'm willing to bet nobody cares, after all, Africa is a country, Europe is a country, even Bruxelles is a country...
They have a lot of reasons not to adopt the blockchain technology. The economy of Saudi is standing firm and steady that they don't need crypto to enhance their assets.
Also, we all know how huge is the terrorism rate in countries like Saudi so they are getting the risk of adopting crypto because it might be used by criminals to pursue terrorism and other crimes.
A controlled centralized currency would make it a lot easier to track down any kind of activities, legal or illegal, it can also be used to seize funds in a matter of seconds, follow the trails with a single click, it's exactly the opposite.
They don't want it because it's simply not worth, you already have digital money in banks and cards, why bother with another currency?
Having a cryptocurrency won't prevent them from going bankrupt once the oil dries out