“To protect citizens,” the Kurdistan Region’s Ministry of Interior bans trading in Forex and cryptocurrencies and threatens violators.
“To protect citizens,” the Kurdistan Region’s Ministry of Interior bans trading in Forex and cryptocurrencies and threatens violators.
2026-05-03
Shafaq News – Erbil
The Ministry of Interior of the Kurdistan Region confirmed on Sunday the ban on trading in Forex and other digital currencies, based on the directives of the Central Bank of Iraq and the Ministry of Finance and Economy in the region, warning citizens against dealing with them.
A statement issued by the ministry said, “Due to the lack of a legal framework protecting the rights and interests of citizens, and because all companies operating in the field of electronic currencies, such as (USDT) and foreign exchange trading (Forex), are not officially licensed in the Kurdistan Region and the Federal Republic of Iraq.”
She stressed that “the applicable laws and regulations prohibit conducting any transactions in these areas,” noting that “any entity operating in this field under the name of any company will be shut down and prosecuted.”
The statement urged citizens to avoid such transactions to protect their property, and called on anyone with rights against those who previously engaged in such practices to work to recover them.
shafaq.com
