Regulatory Alerts2022-09-08
Amendments to the Crypto-Asset Module
The Central Bank of Bahrain has issued comprehensive amendments to its Crypto-Asset Module, establishing a detailed licensing framework for crypto-asset services and digital token offerings within the Kingdom. The updated rules mandate strict capital, custody, and cybersecurity standards while categorizing licensees into four distinct tiers based on their permitted activities, such as trading, portfolio management, and exchange operations. Furthermore, the amendments enforce robust client protection measures, clear conduct of business obligations, and comprehensive enforcement powers to mitigate financial crime and market abuse in the rapidly evolving digital asset sector.
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