The Central Bank of Iraq criminalizes dealing in the currency (Albtkwin) in Iraq

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Iraq’s central bank said that it does not deal with electronic currency, promising to prosecute its clients accused of money laundering.

The director of the press office of the bank, Acer Jabbar, said in a statement that dealing with this currency involves several risks, especially with regard to electronic piracy and fraud, as this currency does not sell within Iraq.

He added that ‘the Central Bank warns against the use of this currency as the dealers will be subject to the provisions of the law of money laundering in Iraq’.

It is noteworthy that the currency (Bettkwin) was launched in 2008 and is fully rolled over the Internet only and no physical presence but it differs from the rest of the traditional currencies in terms of the absence of a central regulatory body behind them, while can be used as any currency to buy online and can even be converted to any process other traditional.