The QFCRA issued a ban on the provision of virtual asset services in December 2019.
The country has disclosed that it is actively studying potential applications for CBDC.
Qatar Central Bank (QCB) has been criticized by the Financial Action Task Force (FATF). This is for failing to effectively implement QCB’s own policies forbidding virtual asset service providers.
To successfully tackle developing kinds of criminal conduct. Such as punishing virtual asset service providers. Qatar has to enhance its skills, as was noted in a report issued on May 31. This was by the global money-laundering and terrorism funding watchdog.
Also, the Qatar Financial Centre Regulatory Authority (QFCRA) issued a ban on the provision of virtual asset services in and from the Qatar Financial Centre in December 2019.
Need to Step Up Investigation Efforts
At the time, the regulatory body issued a warning to any company that distributes or supports the supply or exchange of crypto assets. Saying that penalties
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