{"id":257397,"date":"2021-05-24T13:02:39","date_gmt":"2021-05-24T10:02:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/central-bank-of-kuwait-issues-warning-against-crypto-investments\/"},"modified":"2021-05-24T13:02:39","modified_gmt":"2021-05-24T10:02:39","slug":"central-bank-of-kuwait-issues-warning-against-crypto-investments","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/central-bank-of-kuwait-issues-warning-against-crypto-investments\/","title":{"rendered":"#Central Bank of Kuwait issues warning against crypto investments"},"content":{"rendered":"

“#Central Bank of Kuwait issues warning against crypto investments<\/strong>”<\/p>\n

<\/p>\n

                The Central Bank of Kuwait says that a \u201creal\u201d currency is one issued by the state. \n                <p>Last week\u2019s market-wide price crash caused central banks around the world to issue warnings about the risks of investing in cryptocurrencies.\u00a0\n<\/code><\/pre>\n
The Central Bank of Kuwait was no exception, and on Saturday issued a statement<\/a> to warn the public about volatility in cryptocurrency markets.\u00a0<\/p>\n
The Central Bank of Kuwait, or CBK, states that crypto assets are not real currencies even though they are commonly called cryptocurrencies. According to the statement, only a lawful state can issue real currency as a symbol of sovereignty:<\/p>\n
\u201cThe real currency is regulated by state authorities such as central banks or monetary institutions. It is considered and accepted as a store of value and legal tender. It serves as a reliable medium for exchange.\u201d<\/p><\/blockquote>\n
The statement noted Dogecoin (DOGE) among the most prominent cryptocurrencies by market cap, Bitcoin (BTC) and Ether (ETH). Dogecoin is known for its meteoric rise earlier this year following Elon Musk\u2019s repeated mentions of the meme-originated coin on social media<\/a>. However, Dogecoin took a sharp dive after the tech mogul\u2019s app<\/a>earance on Saturday Night Live.<\/p>\n
The CBK noted that the warning is a part of the bank\u2019s Diraya campaign, which translates to \u201cBe Aware\u201d in Arabic. Managed by the Kuwait Banking Association, Diraya aims to raise financial awareness in the country and encourage social responsibility activities across the Kuwaiti banking sector.<\/p>\n
After listing the typical beef regarding crypto, such as money laundering, fraud and unauthorized transactions, the CBK noted that the environmental cost of energy-intensive crypto mining operations. <\/p>\n
Recently, Elon Musk announced that the electric car manufacturer Tesla would stop accepting Bitcoin\u00a0as a form of payment due to its potentially harmful effect on the environment.\u00a0However, according to a new study by Mike Novogratz\u2019s Galaxy Digital, traditional banking uses two times more energy than Bitcoin annually. <\/p>\n
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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
“#Central Bank of Kuwait issues warning against crypto investments” The Central Bank of Kuwait says that a \u201creal\u201d currency is one issued by the state. <p>Last week\u2019s market-wide price crash caused central banks around the world to issue warnings about the risks of investing in cryptocurrencies.\u00a0 The Central Bank of Kuwait was no exception, and…<\/p>\n","protected":false},"author":1,"featured_media":257398,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvZGYzM2Y4YzgtODJkNi00Mzg5LWE3ZmMtNjc0NzliMWY1YzA1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-257397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/257397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=257397"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/257397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/257398"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=257397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=257397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=257397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}