So it looks like Kuwait has decided to ban crypto payments, investments, and also mining. The reason? is the usual:
As the article states, any violations of the prohibitions would result in penalties.
I personally wasn't expecting this, especially with their neighbor (UAE and Bahrain) doing the total opposite.
Kuwait has different political and financial conditions then UAE and Bahrain. Maybe the level of money laundering might increased there. That's why the governments took these steps to ban all of the things. And believe me, i belong to the same continent and these ban are temporary and will be lifted after some time.
Maybe when the time will be right. Because these steps are made by some of the people with great power who would make such things happen. And every time such bans has some agendas behind them. The main thing came to my mind is only. There must be some illegal activities that has forced them to make such steps.
Otherwise, unlike US, China, they can not manipulate market, because the traffic or i would say legal traffic or crypto users who add volume to crypto industry from Kuwait are less.