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The central bank of Iraq warned commercial banks of Iraq to avoid dealing with the currencies not directly coming from central bank of Iraq. Central bank of Iraq especially warned commercial banks against use of Bitcoin in their dealing to avoid any currency scam. Bitcoin is the digital currency used for internet sales and purchase.

Bitcoin is the digital currency used to trade from E-shops and internet stores. In the last session, it was traded at $581 and reached its highest level at the end of last week. At the time of closing, the value of Bitcoin was $590 that shows its highest level of trade in the money market.