- The Saudi Central Bank (SAMA), which also acts as the kingdom’s national banking regulator, recently appointed Mohsen AlZahrani to lead its virtual assets and central bank digital currency program.
- Despite there being no legal means of buying crypto in Saudi Arabia, there has nonetheless been a proliferation in the number of citizens trading digital assets in the kingdom.
- The job of AlZahrani at SAMA is likely to involve considering regulations that will protect consumers — and offer the authorities at least some control over crypto markets — while accepting that innovation in this space will continue to take place.
<span>Is Saudi Arabia changing approach to cryptocurrencies? </span>
