🚫 Kuwait's Capital Markets Authority (CMA) slams the door on cryptocurrency operations, enforcing an "absolute prohibition" on all major use cases, including payments, investments, and mining. Licenses for virtual asset services are also a big no-no, so hold the confetti, folks!

Key points:

- CMA bans nearly all crypto operations in Kuwait

- Central Bank and CMA regulated securities stay "safe"

- A caution sign for customers: crypto doesn't have legal status and is prone to price drops

- Violate AML laws? Prepare for penalties

- CMA says it's all about combating money laundering and terrorist financing

Kuwait's crypto cold shoulder: sorry, Bitcoin, it's not you, it's them. 💔