The Central Bank of Iraq hosted the first meeting of the Supreme National Committee for Virtual Assets Regulation in Baghdad, chaired by Governor Ali Mohsen Al-Allaq, to start developing a national regulatory framework for digital assets, including virtual assets and crypto-assets. The committee includes senior representatives from national regulatory, legal, financial and supervisory bodies, alongside scientific, technical and communications stakeholders. The meeting reviewed the global digital-asset landscape and international regulatory models that balance innovation with monetary and financial stability, while meeting anti-money laundering and counter-terrorist financing requirements and addressing risks including cyber risk. The committee underscored the need for clear definitions and classifications, a gradual and flexible approach calibrated to risk, enhanced customer protection and transparency, improved service efficiency, and an advanced licensing environment.
Central Bank of Iraq 2025-12-14
Central Bank of Iraq convenes first meeting of Supreme National Committee to develop a virtual assets regulatory framework
The Central Bank of Iraq held the first meeting of the Supreme National Committee for Virtual Assets Regulation to create a national framework for digital assets, balancing innovation with financial stability and addressing risks like cyber threats and anti-money laundering. The committee stressed clear definitions, a risk-calibrated approach, enhanced customer protection, and an advanced licensing environment.