CBB Crypto-Asset Module
Bahrain2019AML/CFTOverview
Key Obligations
- Obtain a license from the Central Bank of Bahrain before offering crypto-asset services
- Maintain capital adequacy and governance frameworks based on business model
- Segregate client assets and maintain proper custody arrangements
- Implement AML/CFT programs in line with FATF standards
- Conduct ongoing risk assessments for operational and cyber risks
- Disclose relevant terms, risks, and fee structures to clients
- Submit to regulatory audits and supervisory reporting requirements
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Related Regulations
FAQ
What types of companies fall under the CBB Crypto-Asset Module?
Crypto exchanges, wallet providers, token issuers, and any service providers engaged in crypto-asset activities in Bahrain.
Is a license required to operate in Bahrain?
Yes. All crypto-asset service providers must obtain a license from the Central Bank of Bahrain.
Does this regulation include AML requirements?
Yes. Licensed entities must implement AML/CFT measures aligned with FATF Recommendations.
Are there rules for safeguarding client funds?
Yes. The module requires clear custody rules and mandates segregation of client assets.