IslamicFinance.de

Saudi nationals have been warned against embarking on hazardous investments in cryptocurrencies. According to the Capital Market Authority, there is no monetary oversight inside Saudi Arabia over digital currencies which involve high risks. It warned that digital currencies expose investors to speculative bubbles, loss of capital, fraud, high market volatility, cyber hacking and lack of transparent evaluative regulations. The Capital Market Authority also said that it would be difficult to protect investors as Saudi Arabia has no oversight on the digital currency.