Yesterday, the Central Bank of Bahrain (CBB) announced they are expanding their crypto asset regulatory framework to include digital tokens. The expansion will foster innovation as well as enhance consumer and investor protection.
As a licensed crypto-asset service provider by the CBB, we feel extremely fortunate to operate within a clear and progressive regulatory framework. CoinMENA has had a productive partnership with the CBB since our inception, and we commend their commitment to supporting the growth of the crypto industry in the region. We’re in a very exciting time in history where our region is emerging as a global leader in crypto, while our counterparts in the west are doing the exact opposite and pushing companies offshore.
We appreciate the Central Bank's approach to engaging with the industry, which included several rounds of feedback and consultation. Their willingness to listen and consider the industry's input resulted in expanding the framework's scope to include digital token offerings. This move demonstrates the regulatory body's proactive approach to keeping up with the latest developments in the #cryptoassets market and fostering innovation.
Looking forward to continuing working closely with our regulatory counterparts to provide investors with safe and legal access to digital assets. Together, we can continue to build a strong and sustainable crypto ecosystem in #Bahrain and the wider region. We believe that the Central Bank's approach will attract global investment and talent, and establish the region as a global crypto hub.