The Bitcoin trade booming on Bahraini websites and social media with no laws regulating the system

Managing Director of INFINITIWARE, a Bahraini artificial intelligence company, Ameen Al Tajer, explained to Tribune that “Bitcoins are basically a digital currency created by an anonymous person or entity named Satoshi Nakamoto almost a decade ago”.

With the beginning of this year, more countries have begun to legally recognise bitcoins, including European Union (EU) states, Canada, the US and several African and Asian countries. Bitcoins trade have been booming on Bahraini websites and social media networks. There are no laws in Bahrain that regulate the Bitcoins system, therefore it’s not 100 per cent safe.

In the absence of official regulations, Bitcoins trade have been booming on Bahraini websites and social media networks. Additionally, an actual shop is set to open soon in Riffa area, as mentioned by an online ad.