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Central Bank: We do not deal with this currency
Iraq's central bank said on Sunday it was not dealing with the currency of Bitcoin, "Bitcoin" warning that "dealers will be subject to the tightening of the law on money laundering."
"The Bitcoin coin is a virtual electronic currency that trades only over the Internet without a physical presence and is used for online purchases and supports payment using the cards of the pettecon, or may convert to traditional currencies in some cases," Information Office Director Acer Jabbar said in a statement received by the Journal News.
He added that "this currency involves several risks that may result from circulation, especially with regard to electronic piracy and fraud, although there is no popularity within Iraq."
He stressed that "the bank does not deal with them and subject dealers to the provisions of the Money Laundering Law No. (39) for the year 2015 and related laws in this regard."
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