Bahrain Central Bank Releases Draft Crypto Regulations

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  • According to the Bahrain News Agency, The Central Bank of Bahrain (CBB) has published draft rules for consideration on cryptocurrency platform operators 

 

  • The proposed regulatory framework for crypto-asset services covers the requirements for licensing, financial resources, and measures to safeguard client or customer interests, technology standards and in particular the cyber security risk management measures, reporting and other requirements

 

  • Mr. Khalid Hamad, Executive Director of Banking Supervision, said: “This regulatory framework will address the demand from the market for these services and the need to also recognise this innovation in financial services. The CBB’s experience with the participants within the Regulatory Sandbox was insightful in shaping these rules.”

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