CRA-1.1.6
(a) Reception and Transmission of order: The reception from a client of an order to buy and/or sell one or more crypto-assets and the transmission of that order to a third party for execution.
(b) Trading in crypto-assets as agent: Acting to conclude agreements to buy and/or sell for one or more crypto-assets on behalf of the clients .
(c) Trading in crypto-assets as principal: Trading against proprietary capital resulting in conclusion of transactions in one or more crypto-assets .
(d) Portfolio Management: Managing crypto-assets belonging to a client and the arrangement for their management are such that the licensee managing those crypto-assets has a discretion to invest in one or more crypto-assets .
(e) Crypto-asset Custodian: safeguarding, storing, holding, maintaining custody of or arranging on behalf of clients for crypto-assets .
(f) Investment Advice: Giving or offering, to persons in their capacity as investors or potential investors or as agent for an investors or potential investor, a personal recommendation in respect of one or more transactions relating to one or more crypto-assets . A "personal recommendation" means a recommendation presented as suitable for the client to whom it is addressed, or which is based on a consideration of the circumstances of that person, and must constitute a recommendation to buy, sell, exchange, exercise or not to exercise any right conferred by a particular crypto-asset , or hold a particular crypto-asset .
(g) [This subparagraph was moved to CRA-1.1.6(f) in April 2019].
(h) Crypto-asset exchange: means a crypto-asset exchange, licensed by the CBB and operating in or from the Kingdom of Bahrain, on which trading, conversion or exchange of:
(i) crypto-assets for fiat currency or vice versa; and/or
(ii) crypto-assets for another crypto-asset ,
may be transacted in accordance with the Rules of thecrypto-asset exchange .
may be transacted in accordance with the Rules of the
(i) Digital token advisor: advise and guide a digital token issuer on all matters relating to offering of digital tokens , trading of digital tokens as well as on the responsibilities and obligations of the digital token issuer pursuant to the provisions of applicable law, rules and regulations.
Amended: April 2023
Added: February 2019
Added: February 2019