Jun 17, 2022 03:17 PM (GMT+8) · EqualOcean
[Kyrgyz central bank issues warning on cryptocurrency and crypto Payment] golden financial report, Kyrgyz central bank recently pointed out that cryptocurrency and other virtual assets are becoming more and more popular in Kyrgyzstan. Regulators warned that it was still illegal to use them to buy and sell goods and services, and that the Kyrgyz SOM remained the country's only legal tender. Local media quoted the monetary authority as saying that the monetary authority also warned about the risks associated with decentralized digital currency: usually, no one is responsible for cryptocurrency. It has no financial support. It has no real value because it is not linked to any currency or other assets. The National Bank of Kyrgyzstan (NBK) said that this would create a high risk of exchange rate fluctuations and value loss. It also pointed out that the risk of cryptocurrency settlement stems from its characteristics and the lack of "central control authority". Therefore, we recommend citizens to be cautious and avoid using cryptocurrency for payment and settlement. Users should bear all possible risks and negative consequences when using cryptocurrency and virtual assets for settlement. (news.bitcoin)

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