1st Arab country to regulate Bitcoin: Bahrain
(MENAFN) Bahrain has currently turned into the first Arab nation to comprehensively regulate Bitcoin after finalizing its draft two months ago.
The Central Bank of Bahrain confirmed that the country is now fully secure for crypto assets activities to be conducted.
In an online statement, the central bank confirmed that the regulations are now in need of "enhanced" due diligence.
Banking Supervision director Khalid Hamid stated that "the CBB's introduction of the rules relating to crypto-assets is in line with its goal to develop a comprehensive rules for the FinTech eco-system supporting Bahrain's position as a leading financial hub in the MENA region."
The Central Bank of Bahrain confirmed that the country is now fully secure for crypto assets activities to be conducted.
In an online statement, the central bank confirmed that the regulations are now in need of "enhanced" due diligence.
Banking Supervision director Khalid Hamid stated that "the CBB's introduction of the rules relating to crypto-assets is in line with its goal to develop a comprehensive rules for the FinTech eco-system supporting Bahrain's position as a leading financial hub in the MENA region."
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