Bahrain’s Central Bank Publishes Draft Regulations on Crypto Assets

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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, Bahrain’s Institute of
Banking and Finance launched its own “Blockchain Academy.”
The newly established academy will provide courses in three
competency areas of blockchain technology: development,
implementation and strategy.
Abdulhussain Mirza, Bahrain’s minister of electricity and water
affairs demonstrated a positive outlook on the technology in
September, saying that “Blockchain’s ability to protect user’s data
is a true mark of progress.”
As Cointelegraph reported earlier this week, the Dutch central bank
also proposed licensing cryptocurrency service providers.

Source: https://cointelegraph.com/news/