CRA-15.1.9
The
(a) The digital token issuer must be a legal person duly incorporated under the laws of the Kingdom of Bahrain or a jurisdiction acceptable to the CBB and which is not publicly listed on a stock exchange;
(b) The digital token issuer must ensure no conflict of interest arises during the issuance of digital tokens ;
(c) The digital token issuer must protect and act in the best interests of digital token holders as well as provide equal treatment to all digital token holders;
(d) The digital token issuer must adhere to the offering and issuing timetable contained in the whitepaper , or as amended, subject to the CBB’s written approval;
(e) The maturity period of a digital token exhibiting characteristics of a debt security must not exceed 5 years;
(f) For any single offering of digital token , the digital tokens must have identical terms and conditions of issuance, including having the same price; and
(g) The offer period for a digital token offering must not be less than 10 calendar days after the day of commencement of the offer and must not exceed a maximum period of three (3) months.
Added: April 2023