Saudi Arabia's finance ministry warns of cryptocurrency fraud

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Saudi Arabia's finance ministry warns of cryptocurrency fraud

Saudi Arabia's ministry of finance has warned that fraudsters from Singapore are attempting to con crypt-investors into investing in a "virtual currency" they claim will fund government projects. The ministry said that the Singapore-based company is pushing "CryptoRiyal" and "SmartRiyal" cryptocurrencies, linked to the Saudi riyal currency. In a statement issued this morning the ministry cautioned, "Any use of the KSA name, national currency or national emblem by any entity for virtual ...

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Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.