CRA-15.1.37
The mechanism for collection of funds must offer sufficient guarantees ensuring its reliability and efficiency. It must have at least the following characteristics:
(a) It must ensure the security of the funds collected;
(b) It must ensure that the funds collected are deposited in a CBB licensed retail bank account in Bahrain dedicated specifically to the digital token offering;
(c) It must ensure that the funds collected cannot be transferred to the digital token issuer unless the soft cap threshold is reached; and
(d) It must ensure that the funds collected can be transferred to the digital token issuer or used by the digital token issuer only if the drawdown conditions provided for by the digital token issuer in the whitepaper are met.
Added: April 2023