Virtual and cryptocurrencies (VCs/CCs) are popular among residents in Kuwait despite not being recognized as a legal tender. Kuwait Law No. 106/2013 Law Regarding Anti-Money Laundering Operations prescribes that entities subject to the law should treat all transactions involving new technologies as high risk transactions that require enhanced customer due diligence and know your customer (CDD/KYC) procedures, as well as submission of a suspicious transaction report to the Kuwait Financial Intelligence Unit. Likely because of the novelty of the technology, the application of this obligation to VCs/CCs have so far been sparse.