Expats in Qatar now forbidden to use cryptocurrency | Emigrate News

Expats in Qatar now forbidden to use cryptocurrency

If you’re planning to become an expat in Qatar and regularly use digital money or invest in cryptocurrencies, perhaps you should consider another destination.

Qatar’s population of 2.6 million includes a large percentage of top-salaried expatriate professionals, making its average per capita income one of the highest in the world. Given this fact, the reasons behind the emirate’s banning of digital currencies is difficult to explain, especially to expats making even more money by using their spare cash to trade in cryptocurrencies. The ban was imposed recently, coming as a shock for investors and high-salaried expats who enjoy a flutter.

Apparently, according to the official announcement, ‘virtual asset services may not be conducted from or in the country’. The statement continued, saying the new rule applies to literally anything of value used in place of hard currency and includes…