Bahrain Moves Forward with Stablecoin Issuance Framework

Bahrain’s central bank is drafting stablecoin regulations to enhance financial access and lower transaction costs.

Finance Minister Shaikh Salman bin Khalifa Al Khalifa emphasized the country’s commitment to making digital assets safer by enforcing strict oversight to curb risks like fraud and money laundering. Bahrain, known for its crypto-friendly stance, has licensed exchanges like Coinmena and Binance, allowing broader adoption of digital assets.

However, concerns over regulation persist. The proposed legislation will grant the central bank authority to monitor blockchain transactions and enforce penalties on violators, ensuring a safer and more regulated crypto environment.

Clever Robot News Desk 13^th February 2025