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Bahrain’s Central Bank Publishes Draft Regulations on Crypto Assets

Central Bank of Bahrain has issued a draft of digital assets regulations which includes new licensing requirements for crypto service providers.

Bahrain’s central bank has issued draft regulations on digital assets, Reuters reports Friday, Dec. 13.

According to Reuters “the central bank said it had issued for consultation draft rules for crypto asset platform operators, providing regulations for the licensing and supervision of crypto asset services.”

Bahrain’s central bank has reportedly stated that the proposed regulations include “measures to safeguard customer interests, technology standards, and cybersecurity risk management.”

Bahrain first announced its positive stance toward blockchain over a year ago. At the time, Khalid Al Rumaihi, the country’s chief executive of the Economic Development Board called the technology a “huge opportunity for Bahrain.”

As Cointelegraph reported this November,…

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2018-12-14 17:15:00

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Written by Cointelegraph

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