Permanecer 
Condiciones de negociación
Products
Herramientas
A governmental committee made up of Saudi regulators issued a statement that trading in cryptocurrencies in the kingdom is illegal. According to a statement issued on Sunday, a permanent committee warned against the trading of cryptocurrencies due to the negative consequences and high risk posed by traders who are out of the government's supervision.
"The committee assured that the virtual currency, including, but not limited to, Bitcoin, is illegal in the kingdom and neither party nor person is licensed for such practices "- explains the statement.
The publication does not indicate what the consequences may be for sites that would sell cryptocurrencies.
Established by the highest decree, the Standing Committee on Consciousness in Action on Unauthorized Securities on the currency market was created by five regulatory bodies of the Middle East, including the Capital Market Office (CMA) and the Saudi Monetary Fund (SAMA) - in practice, the central bank of this country.
In addition to the mandate for unauthorized securities, the commission is also required to notify the relevant agencies of any activities related to the virtual currency in order to limit their access to society.
This warning appeared after the critical remark of the Saudi Prince Al-Waleed bin Talal in December 2017, in which he said that Bitcoin one day imploded. Prince additionally compared the world's largest cryptocurrency to Enron, an American energy company, which fell in early 2000 after revealing huge accounting scams.
Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has bounced from the local low at the level of $5835 and rallied towards the important technical resistance at the level of $6597. Nevertheless, the bulls were too weak to break through this level and the Bearish Engulfing candlestick pattern was created at this level. Currently, the price is trading below the weekly pivot at the level of $6,252 and the question remains whether the bulls will try again to break the technical resistance. The nearest support is seen at the level of $6,083.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.
We are sorry for any inconvenience caused by this message.
