MUSCAT : The Central Bank of Oman (CBO) has warned the public against dealing with cryptocurrencies such as Dagcoin.

In a statement issued on Tuesday, CBO has once again clarified that cryptocurrencies are not a legal tender in the Sultanate of Oman and no licence has been granted to any institution or body to trade cryptocurrency or similar products in the country.

Further, the Central Bank of Oman has not given any license/authorisation to any entity for dealing in cryptocurrencies or similar products. Hence, using, holding and trading of cryptocurrencies and similar products are neither guaranteed by the Central Bank of Oman nor protected by the Banking Law 114/2000 as a Central Bank money,” CBO explained.
 
“Members of the public are cautioned that users, holders and traders of cryptocurrencies and similar products may be exposed to potential financial, operational, legal, and security related risks, in addition to the lack of customer protection. Anyone dealing in such cryptocurrencies and similar products will be doing so at their own risk and responsibility,” CBO added.

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