Kurdistan Region government: Forex, crypto trading banned

2026-05-03T12:46:59+00:00

Shafaq News- Erbil

The Kurdistan Region’s Interior Ministry on Sunday warned against trading in foreign exchange (Forex) and digital currencies, including USDT, saying such activities are “illegal and unlicensed” under Iraqi law.

In 2017, the Central Bank of Iraq formally banned cryptocurrency trading, citing concerns over fraud, market instability, and consumer protection. The ban prohibits banks, financial institutions, and payment service providers from dealing in digital assets.

Digital currency expert Hiwa Osman last year stated that around 90 to 95 percent of people trading in such services lose their money.