RATE Group | Bahrain Central Bank Publishes Draft Cryptocurrency Regulations
52801
post-template-default,single,single-post,postid-52801,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bahrain Central Bank Publishes Draft Cryptocurrency Regulations

14 Dec Bahrain Central Bank Publishes Draft Cryptocurrency Regulations

Posted at 20:45h in Cryptocurrency News by

[ad_1]


bahrain cryptocurrency regulation

The central bank of Bahrain has kicked off a consultative process on cryptocurrency platforms in the kingdom by publishing the relevant draft regulations.

According to the Bahrain News Agency, the draft rules — which target the operations of crypto-asset platforms — aim to provide a regulatory framework for the supervision and licensing of these services. Additionally, the draft rules contain measures aimed at safeguarding the interests of customers, cybersecurity risk management, and technology standards.

“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,” the executive director of banking supervision at the Central Bank of Bahrain, Khalid Hamad, said in a statement.

The Central Bank of Bahrain (CBB) expects to have received feedback on the draft…

[ad_2]

Source link

Tags:
, , , , , ,