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  • Legal Source

    • SIO-14.8.1

      Article 136 of the CBB Law empowers (but does not oblige) the CBB to assume the administration of a stablecoin issuer in certain circumstances. These circumstances are outlined in the above Article and may include the following:

      (a) The stablecoin issuer has become insolvent;
      (b) Its solvency is in jeopardy;
      (c) Its continued activity is detrimental to the financial services industry in the Kingdom; or
      (d) Its license has been cancelled.
      Added: July 2025

    • SIO-14.8.2

      Article 139 of the CBB Law provides that where the CBB assumes the administration of a licensee, the licensee concerned may appeal within 10 days to the CBB and, subsequently, the courts, in order to challenge its administration by the CBB.

      Added: July 2025

    • SIO-14.8.3

      Articles 135 to 143 of the CBB Law set down the operating parameters of an administration.

      Added: July 2025