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.
Meh. Not really bitcoin's problem at this point. Countries that are way well off than them are choosing to allow bitcoin in the country and they aren't, so if shit hits the fan and they come back reeling for bitcoin then that just means that we're really telling the truth yeah? I feel like I'm going off into a tangent here but basically saying that countries can go about banning cryptocurrencies all they want but people are seeing the use and benefits of it and you can't really stop what's already taken traction. In the case of bitcoin and illegalizing it, what are they going to do? Throw every bitcoin user in Kuwait to prison? Unlikely. They're doing this to spite other countries and to probably gain sympathy from others. They'll realize this is not the way soon enough.