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.
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.
I saw the news early morning today on flash news in social media platform but I snobbing the news. And one thing I discovered from all these countries that are banning cryptocurrency lack the full knowledge about the new technology. is it not better they regulate the transaction process than banning?
Kuwait has been on the deliberation
https://freemanlaw.com/cryptocurrency/kuwait/ and what Minister of Finance did in Kuwait is the same thing happened in Nigeria. On their own they just hate cryptocurrency and if you investigate the issue well, you will discovered that it is not because of the money laundering but because of hatred to the bitcoin users.
Now the Central Bank of Nigeria for governor is in under DSS custody. He will learn his lesson from there.