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TL;DR Breakdown<ul><li>The Central Bank of Bahrain (CBB) has announced the issuance of new regulations for security tokens.</li><li>Bahrain has been a pioneer in regulating crypto in the GCC region, allowing for the launch of crypto exchange brokers such as RAIN, CoinMENA, and Binance.</li></ul>The Central Bank of Bahrain (CBB) has announced the issuance of new regulations for security tokens, expanding its existing crypto asset module. This move marks the first time that a GCC country has regulated security tokens onshore.Under the new regulations, the CBB will examine the underlying economic purpose, structure, characteristics, and rights attached to digital tokens to determine whether they qualify as securities. The amendments also outline new requirements for safeguarding clients’ assets, which will provide enhanced levels of protection for investors.Moreover, the CBB will allow crypto-assets licensees, after obtaining its approval, to engage in additional activities beyond the regulated crypto-asset services.Director of the Capital Markets Supervision Directorate at the CBB, Mrs. Abeer Al Saad, said, “We at the CBB are delighted to issue the new amendments to our regulatory framework for crypto-assets and to specifically introduce new regulatory requirements for the digital tokens offerings, in order to regulate the crypto-assets market in a fair and transparent manner.”Bahrain has been a pioneer in regulating crypto in the GCC region, allowing for the launch of crypto exchange brokers such as RAIN, CoinMENA, and Binance. It is also one of the leading GCC and MENA countries for crypto payments.By adopting a risk-based regulatory approach, the CBB hopes to provide adequate safeguards to investors without inhibiting innovation adoption in the sector. As the market evolves, the CBB plans to continue monitoring market trends and reviewing the regulatory framework to maintain the competitiveness of the sector.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Bahrain becomes first country in MENA region to launch onshore security token regulations

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Інші статті, опубліковані 4 квіт. 2023 р.

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