The ministry has said that a research group in charge of studying virtual assets and currencies had been set up and started to study and develop the legal framework for the management of cryptocurrencies.
Currently, there are no regulations about the issuance, trading and exchange of virtual assets and cryptocurrencies nor regulations on an official agency to manage virtual assets. Thus, the trading and exchange of cryptocurrencies via platforms such as Binance and Coinbase or through direct agreements carry a lot of risks, the ministry said.
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