Saudi Arabia’s Ministry of Finance warns entities involved in illegal use of virtual currency marketing

The Saudi Arabian Ministry of Finance issued a statement saying that a virtual currency project recently claimed to be related to Saudi Arabia’s investment projects and used the Saudi Arabian national currency, Saudi Riyal and National Emblem, to mislead the market for marketing activities. The statement warns that any entity that uses Saudi Arabian national currencies or badges for virtual or digital currency marketing will be subject to legal action by the competent authorities.