So it looks like Kuwait has decided to ban crypto payments, investments, and also mining. The reason? is the usual:
Kuwait has prohibited the use of crypto for payments or investment to combat money laundering, according to a circular by the country's financial regulator issued on Monday.
It seems there is no valid reason to ban the crypto currency transactions, mining as well as approving any platforms to provide services related to cryptos unless they are panning to execute it for too long. The government claims that they are doing it to combat money laundering but I feel they are not benefiting from having cryptos like their neighbors (UAE, Saudi) because they managed to generate few billions invested into their country.
The only thing I'm interested in is what are the penalties for those caught in the offense - I hope it's not something of the type of punishment that exists in that part of the world.
Definitely not, they will just go with the huge money as penalty because AFAIK the mostly they will go for such penalties that we remember about middle east mostly for disciplinary cases