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  • Cancellation of a License by the CBB

    • CRA-1.3.4

      Pursuant to Article 48 (c) of the CBB Law, the CBB may cancel a license, for instance if a licensee fails to satisfy any of its existing license conditions or in order to protect the legitimate interests of clients or creditors of the licensee. The CBB generally views the cancellation of a license as appropriate only in the most serious of circumstances, and generally tries to address supervisory concerns through other means beforehand.

      Amended: April 2023
      Added: April 2019

    • CRA-1.3.5

      The procedures for cancellation of a license are contained in Articles 48 and 49 of the CBB Law.

      Amended: April 2023
      Added: April 2019

    • CRA-1.3.6

      The CBB will only effect the cancellation once a licensee has discharged all its regulatory responsibilities to clients. Until such time, the CBB will retain all its regulatory powers towards the licensee and will direct the licensee so that no new regulated crypto-asset services may be undertaken whilst the licensee discharges its obligations to its clients.

      Amended: April 2023
      Added: April 2019