Bahrain Introduces Regulatory Framework for Stablecoin Issuers
Under the new guidelines, licensed issuers may offer single-currency stablecoins backed by the Bahraini Dinar (BHD), United States Dollar (USD), or other fiat currencies approved by the CBB.
The framework is designed to address the risks posed by unregulated stablecoins and create a safer, more transparent environment that supports investor confidence and sector stability.
Mohamed Al Sadek, Executive Director of Market Development at the CBB, said,
'By encouraging the development and adoption of innovative financial technologies, the CBB aims to enhance Bahrain's position as a leading financial hub in the MENA region. This milestone reflects the pioneering role the CBB continues to play in overseeing the crypto-asset market and ensuring that the Kingdom's financial services landscape is equipped for future developments.'
The announcement was made during the FS Horizons: Doubling Down on Digital event, hosted in partnership with the Bahrain Economic Development Board, where industry leaders gathered to highlight Bahrain's advancements in digital banking, payments infrastructure, and talent development.
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