Oman’s financial market regulator, the Capital Markets Authority (CMA), has stated that regulations for virtual assets are coming.
The Central Bank of Oman continues its warnings about digital assets. CMA highlighted the future of new regulations on behalf of virtual assets. In the light of the press release made on February 14, it was stated that regulations will be added for the surveillance of virtual assets and the licensing process.
Oman Central Bank Speaks About Arrangements To Be Made
The Central Bank of Oman (CBO) referred to the country’s crypto currency data with its statements. He reported that 62 percent of locals use it for long-term investment, 25 percent for learning purposes and the rest for daily cryptocurrency trading. The Central Bank of Oman, in its statement in October, expressed its view on digital assets as follows;
“Users trading in digital assets need to be wary of scams. License applications for cryptocurrency trading have not yet started. Banks and investors should proceed cautiously for digital asset activities.”
Regarding the upcoming regulations, the CBO emphasized “Digital assets and cryptocurrencies, tokens, crypto-related exchange services, initial coin offering”.
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