The Kurdistan Regional Government in Iraq has launched a new effort to control unlicensed electronic trading. Officials have formed a committee under the Interior Ministry to Kurdistan fights crypto fraud companies in the cryptocurrency and forex sectors. This move comes as concerns grow about unregulated digital finance in the region.
Therefore, the committee will act directly under the Interior Ministry’s supervision. Central Bank of Iraq recommendations triggered this action. Kurdish authorities now aim to strengthen control over digital trading platforms and reduce risks to citizens. The government made it clear that unauthorized firms have no legal right to operate.
Additionally, Kurdistan plans to enforce closures through this special body. The move follows pressure from financial regulators who want stricter control over virtual currencies. Authorities warned that illegal digital finance could threaten economic stability and public safety.
Moreover, the Kurdistan Regional Government believes that Kurdistan fights crypto fraud by acting swiftly against digital currency scams. Officials stress that public awareness must increase. Many investors still join platforms without proper checks. The new committee will identify and shut down unlicensed operators.
Additionally, authorities in Duhok recently arrested two individuals who allegedly ran a crypto fraud scheme. They reportedly took $15 million from investors. This case highlighted how criminal groups exploit financial technology for quick profit. The arrests added urgency to the government’s response.
In response, the new committee will include security, financial, and legal experts. They will work together to spot suspicious trading behavior. The team will also monitor forex firms that offer digital services without approval. Kurdistan fights crypto fraud with teamwork and stronger oversight.
Leaders believe that this campaign will protect citizens. They hope to create a more secure financial environment. Officials also said they want to work closely with Baghdad to ensure unity in financial law enforcement. Kurdistan fights crypto fraud by using shared intelligence and national coordination.
In conclusion, this new crackdown shows that the KRG views uncontrolled digital finance as a serious issue. The regional government wants to prevent further losses and stop illegal financial networks from growing.