The CBO – Central Bank of Oman has warned its citizens and residents of the “high risks” of using cryptocurrencies within an official recent statement issued via the Oman News Agency.
The CBO revealed that the cryptocurrency assets are “are fraught with high risks due to the volatility of their prices significantly and therefore the risks of getting used for electronic piracy as well as frauds.”
The warning, recently reported by native reporting media, Times of Oman, specifically highlighted the risks of investing in Dagcoin, a cryptocurrency that the BBC recently revealed within an earlier podcast has seen an influx of promoters from the accused Ponzi scheme ‘OneCoin’.
Jordan’s central bank issued a similar warning mentioning Dagcoin last year.
The Oman central bank further clarified that it’s not issued any licenses for the trading of cryptocurrencies which cryptocurrencies aren’t guaranteed within the Gulf state as money.
“Anyone dealing in such cryptocurrencies, … does so on his own responsibility,” the statement further adds.