CBB Crypto-Asset Module
Bahrain
2019
AML/CFT
Overview
The Crypto-Asset Module is part of Bahrain's Financial Institutions Rulebook (Volume 6) issued by the Central Bank of Bahrain (CBB) in 2019. It provides a comprehensive regulatory framework for licensing, supervising, and operating crypto-asset services. This includes requirements for crypto firms, trading platforms, custodians, token issuers, and other crypto-asset service providers.The regulation applies to crypto exchanges, wallet providers, token issuers, fintech platforms, and other digital asset businesses operating in or targeting Bahrain. It mandates licensing, risk controls, AML/CFT compliance, client asset segregation, and consumer protection standards.
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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