Back Custom print Link Text Only Rich Text Print

  • SIO-1.1 Undertaking Regulated Activity in Stablecoins

    • SIO-1.1.1

      This Module sets out the requirements for stablecoin issuers undertaking regulated stablecoin offering service. Pursuant to CBB Regulation No (1) of 2007 with respect to regulated services, regulated stablecoin offering service includes the following services:

      (i) issuance and offering of stablecoins;
      (ii) controlling the total supply of stablecoins;
      (iii) minting and burning of stablecoins; and
      (iv) services incidental to issuance and offering of stablecoin such as managing and safeguarding the reserve assets and custody of stablecoins;
      Added: July 2025

    • SIO-1.1.2

      Stablecoin issuers intending to offer regulated stablecoin offering services which were not included in its application for license and/or additional services which are not part of the regulated stablecoin offering services specified in Paragraph SIO-1.1.1, must seek the CBB’s prior written approval before offering the service. Stablecoin issuers must provide the CBB with detailed description of the new services, the resources required and the operational framework for such service.

      Added: July 2025

    • SIO-1.1.3

      No person shall undertake (or hold oneself to undertake) regulated stablecoin offering service (SIO-1.1.1) or actively market the issuance and offering of stablecoins to the public, by way of business, within or from the Kingdom of Bahrain, unless that person is duly licensed by the CBB.

      Added: July 2025

    • SIO-1.1.4

      The regulated activities will be deemed to be undertaken ‘within or from the Kingdom of Bahrain’, if, for example, the person concerned:

      (a) Is incorporated in the Kingdom of Bahrain;
      (b) Uses an address situated in the Kingdom of Bahrain for its correspondence; or
      (c) Solicits clients within the Kingdom of Bahrain.
      Added: July 2025

    • SIO-1.1.5

      For the purposes of SIO-1.1.3, actively market includes:

      (d) Frequently calling on members of the Bahrain public and marketing their service;
      (e) Running a mass media programme targeting Bahrain’s public; and
      (f) Internet activities that targets the Bahrain public.
      (g) This would also include activities provided by Bahrain incorporated firms to persons based in Bahrain or overseas (natural and legal), as well as those provided by overseas firms to Bahrain residents (natural or legal).
      Added: July 2025

    • SIO-1.1.6

      Stablecoin issuers must satisfy the conditions and requirements detailed in this Module for:

      (a) The types of stablecoins that can be issued; and
      (b) The requirements pertaining to stablecoin issuer’s eligibility and obligations.
      Added: July 2025

    • SIO-1.1.7

      To assist with the interpretation of the requirements of this Module and their application, stablecoin issuer and/or their appointed functionaries should initiate discussion with the CBB and seek necessary clarification. Any action or conduct which departs from the requirements stipulated in this Module or other applicable Modules shall be taken into account by the CBB for the purpose of determining compliance with the regulatory framework.

      Added: July 2025