SIO-8.1 Reporting
SIO-8.1.1
For each approved stablecoin, the stablecoin issuer must, on a quarterly basis, report (as per the format provided in Appendix F) to the CBB the following information:
(a) the number of clients holding the approved stablecoin;(b) the value of the approved stablecoin issued and the size of the reserve assets;(c) the average number and average aggregate value of transaction per day during the relevant quarter;(d) an estimate of the average number and average aggregate value of transaction per day during the quarter that are associated to its use as a medium of exchange within Bahrain.Added: July 2025SIO-8.1.2
For the purpose of Paragraph SIO-8.1.1(c) and SIO-8.1.1(d), “transaction” means any change of the natural or legal person entitled to the approved stablecoin as a result of transfer of the approved stablecoin from one distributed ledger address or account to another that leads to a change in the natural or legal person entitled to the approved stablecoin.
Added: July 2025SIO-8.1.3
The stablecoin issuer shall estimate the number and value of transactions associated to use of an approved stablecoin as a medium of exchange within Bahrain, as referred to in Paragraph SIO-8.1.1(d), by deducting from the total number and value of transactions with that approved stablecoin:
(a) transactions where the approved stablecoin is exchanged for fiat or other crypto-assets with the stablecoin issuer or with a CBB licensed crypto asset licensee;(b) transactions where the approved stablecoin is used as collateral for the purpose of conducting transactions with financial instruments;(c) transactions where the approved stablecoin is used to settle derivative contract;(d) other transactions with the approved stablecoin where the stablecoin issuer has reasonable grounds to assume that the purpose of the respective transactions is not to pay for goods and services. In order to exclude from the estimate, the stablecoin issuer shall be able to demonstrate to the CBB, upon request, that those transactions do not relate to the use of approved stablecoins to pay for goods and services.Added: July 2025SIO-8.1.4
Transactions associated to the use of an approved stablecoin as a medium of exchange shall also include transactions where one or several crypto assets, different from the approved stablecoin, is/are used to pay for goods and services, provided that those transactions are settled in the approved stablecoin. This includes cases where an approved stablecoin is sued as a bridge asset to settle:
(a) a transaction with a crypto-asset different from the approved stablecoin, where the purpose of that transaction is to pay for goods or services; and(b) a transaction involving two crypto-assets different from the approved stablecoin, where the purpose of that transaction is to pay for goods or services. For example, this may be the case where a payer holding a crypto-asset different from the approved stablecoin wishes to pay a payee accepting payment only in another crypto-asset, also different from the approved stablecoin, and the parties agree to use the approved stablecoin to settle the transaction. However, where the parties want to trade or exchange two distinct crypto-asset and agree to settle the transaction using approved stablecoin, without the purpose of the underlying transaction being to pay for goods or services, do not fall within the scope of reporting requirement under Paragraph SIO-8.1.1(d).Added: July 2025SIO-8.1.5
The transactions referred to in Paragraph SIO-8.1.1(d) includes:
(a) transactions settled on a distributed ledger and transactions settled outside a distributed ledger; and(b) transactions between custodial wallet and transaction between a custodial wallet and a non-custodial wallet or other types of distributed ledger addresses that is not controlled by a user or a crypto-asset licensee.Added: July 2025SIO-8.1.6
The transactions referred to in Paragraph SIO-8.1.1(d) shall include transactions where both the both he payer and the payee are located in Bahrain. The location of the payer and the payee refers to their habitual residence, for natural persons, and to the registered office address, for legal persons.
Added: July 2025SIO-8.1.7
In the case of transactions from a non-custodial wallet to a custodial wallet, the crypto-asset licensee of the payee shall report the transaction and in the case of transaction from a custodial wallet to a non-custodial wallet, the crypto-asset licensee of the payer shall report the transaction provided the crypto asset licensee of the payer is able to determine that the transaction has taken place within Bahrain.
Added: July 2025SIO-8.1.8
Crypto-asset licensees that provides services related to approved stablecoins must provide the stablecoin issuer of the approved stablecoin with the necessary information to prepare the report referred to in Paragraph SIO-8.1.1. including by reporting transactions outside the distributed ledger. Appendix F provides the template for the report.
Added: July 2025SIO-8.1.9
The information referred to in Paragraph SIO-8.1.1 must be calculated as this information stands on the following reporting reference dates: 31stMarch, 30thJune, 30thSeptember and 31stDecember and the report must be submitted to the CBB no later than 15 days from the end of the respective reporting period. The value of the transactions referred to in Paragraph SIO- 8.1.1(c) and (d) must be reported in Bahraini Dinar by using the relevant exchange rate applicable at the end of each calendar day during the applicable reporting period.
Added: July 2025Data Quality
SIO-8.1.10
Stablecoin issuer must have systems and procedures in place to ensure that the data submitted to the CBB is correct, complete and submitted within the stipulated timeframe. The aforementioned systems and procedures must allow a stablecoin issuer to reconcile the data received from the crypto-asset licensee of the payee, or, in case of the transactions from a custodial wallet to a non-custodial wallet, the data from the crypto-asset licensee of the payer with the data available to the stablecoin issuer from the sources, including, where applicable, transactional data available on the distributed ledger.
Added: July 2025
