Central confirms prevent trading in the currency of deciding Electronic Coin

Central Bank of Iraq

26/05/2014 13:27

Tomorrow’s Press /

Baghdad said the Iraqi Central Bank not dealing in the currency of deciding Quinn (bit coin) electronic in any way, stressing impose legal sanctions against anyone who tries to deal with financial institutions or companies banking or even people.

said Director General of the Central Bank and the Agency Abdul Abbas Khalaf Sultan for "tomorrow’s Press," said that "the central bank decided not to deal in the currency of deciding Quinn (bit coin) once and for all and to prevent traded in financial institutions and retail banking, they are not issued by a central bank and are traded outside of the powers of the monetary authority confirms it is Legal.

" and added that "currency include suspicion of money laundering and use Palmqbader via the Internet will not be the central never promoted or handled," noting that "countries with weak law and financial control is the trading of such a currency

." It is noteworthy that this currency is fully electronic currency trading online only without the presence of a physicist, as they differ from traditional currencies that there is no centralized regulatory body behind it, but can be used like any other currency to buy online or even converted to traditional currencies.