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  • CRA-B.1 CRA-B.1 Overview

    • CRA-B.1.1

      The CBB has recognised that the market for crypto-assets has been growing globally and people around the world and in Bahrain are currently dealing, buying, selling or otherwise holding positions in crypto-assets. The CBB's Rules are aimed at minimising the risk and, in particular, the risk of financial crime and illegal use of crypto-assets.

      Added: April 2019

    • CRA-B.1.2

      The Rules contained in this Directive cover licensing requirements, the conditions for the issuance and holding the CBB license, minimum capital requirements, measures to safeguard client or customer interests, technology standards and in particular the cyber security risk management requirements, reporting, notifications and approval requirements, conduct of business obligations, prevention of market abuse and manipulation, enforcement and the powers under the CBB Law for inspections and access.

      Amended: January 2020
      Added: April 2019

    • CRA-B.1.3

      The Rules additionally cover the regulatory framework governing the offerings of digital tokens in/from the Kingdom of Bahrain. Pursuant to the authority of the CBB under Article (1) (definition of “securities”) of the CBB Law, digital tokens issued pursuant to this Module are considered as securities.

      Added: April 2023

    • CRA-B.1.4

      Digital tokens have the potential to spur innovation and efficiency in capital raising or as investment opportunity and, as a result, the market for digital token has been growing at a rapid pace. While digital tokens may present a new way to raise capital, they also bring increased risk due to the underlying technologies upon which they are structured. Digital token offerings necessitate the classification of every offering as a security or otherwise, based on the features of the digital token.

      Added: April 2023

    • CRA-B.1.5

      Chapters CRA-1 to CRA-14 apply to Category 1, 2, 3 and 4 licensees offering regulated crypto-asset services. Chapter CRA-15 contains applicable rules on digital tokens and the requirements applicable to digital token advisors and digital token issuers. The rules contained in Chapters CRA-1 to CRA-14 are not applicable to digital token issuers.

      Added: April 2023

    • CRA-B.1.6

      A person that contravenes the provisions of this Module or other applicable Modules of the CBB Rulebook may be subject to enforcement actions in accordance with the provisions of the CBB Law.

      Added: April 2023