Featured Product

    CBB Consults on Licensing Rules for Crypto-Asset Platform Operators

    December 13, 2018

    CBB issued, for consultation, the draft rules for crypto-asset platform operators (Module CPO). The rules offer a regulatory framework for the licensing and supervision of crypto-asset services, including those provided by a platform operator as a principal, agent, and custodian, within or from the Kingdom of Bahrain. CBB is seeking feedback on the consultation by January 13, 2019.

    The regulatory framework covers licnese application requirements, the conditions for the issuance of the license, capital requirements, measures to safeguard client or customer interests, and technology standards, particularly the cyber security risk management measures, reporting, and other requirements. Realizing the growing demand for the crypto-asset market globally and regionally, CBB is introducing this comprehensive risk-based framework to regulate this area of financial services. Following the recent issuance of the final rules on open banking, CBB continues to introduce initiatives that support the development of a more efficient financial services sector, driven by an environment in which innovation can thrive.

     

    Related Links

    Comment Due Date: January 13, 2019

    Keywords: Middle East and Africa, Bahrain, Banking, Crypto-Assets, Regulatory Framework, Regtech, Capital Requirements, Licensing Applications, CBB

    Related Articles
    News

    APRA Announces Deferral of Capital Reform Implementation

    APRA announced that it is deferring the scheduled implementation of Basel III reforms in Australia by one year.

    March 30, 2020 WebPage Regulatory News
    News

    ECB Updates Recommendation on Dividend Distribution Policy of Banks

    ECB updated its recommendation to banks on dividend distributions.

    March 30, 2020 WebPage Regulatory News
    News

    BaFin Explains Regulatory Measures to Address Impact of COVID-19

    BaFin has released new developments and important information about COVID-19 and its effects on the financial and banking system.

    March 30, 2020 WebPage Regulatory News
    News

    BCBS Defers Implementation of Final Basel III Standards by One Year

    BCBS has announced deferral of the implementation date of the final Basel III standards by one year, to January 01, 2023.

    March 27, 2020 WebPage Regulatory News
    News

    EC Regulation on CCR Mitigation for Covered Bonds and Securitizations

    EC published the Delegated Regulation 2020/447 with regard to regulatory technical standards on the specification of criteria for establishing the arrangements to adequately mitigate counterparty credit risk, or CCR, associated with covered bonds and securitizations.

    March 27, 2020 WebPage Regulatory News
    News

    IFRS Publishes Statement on Its Work During the COVID-19 Crisis

    IFRS, in its statement, emphasized that it shares global concerns about the impact of COVID–19 and is supporting its stakeholders by reconsidering timelines of its meetings and publications, providing information on the application of IFRS 9 on financial instruments, and offering calendar updates on ongoing activities.

    March 27, 2020 WebPage Regulatory News
    News

    US Agencies Announce Changes to SA-CCR and CECL Rules Due to COVID-19

    In light of the recent disruptions in economic conditions due to the COVID-19 outbreak, US Agencies (FDIC, FED, and OCC) announced two actions to allow banking organizations to continue lending to households and businesses.

    March 27, 2020 WebPage Regulatory News
    News

    IAIS Adjusts Work Program to Address Impact of COVID-19 on Insurers

    Considering the impact of COVID-19 outbreak, IAIS announced initial adjustments to its work program to provide operational relief to its member supervisors, insurers, and other stakeholders.

    March 27, 2020 WebPage Regulatory News
    News

    OSFI Announces Regulatory Adjustments to Support COVID-19 Efforts

    OSFI published three targeted industry letters that announce a series of regulatory adjustments to support the financial and operational resilience of federally regulated banks, insurers, and private pension plans in the light of COVID-19.

    March 27, 2020 WebPage Regulatory News
    News

    FCA Communicates No Impact of COVID-19 on LIBOR Transition Date

    FCA, BoE, and members of the Working Group on Sterling Risk-Free Reference Rates have discussed the impact of the COVID-19 on firms’ LIBOR transition plans over the coming months.

    March 27, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4906