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Matrix / Bahrain

🇧🇭 Bahrain

The Gulf's first mover — a mature, four-tier crypto licensing regime since 2019, now extended to regulate stablecoin issuance

Crypto (CASP) E-Money (EMI)
Last verified 2026-07-02 Next review 2026-07-16

Data verified: oldest cell 1 day ago (verified 2026-07-02). Individual cells show their own verification date below.

Licence type

Crypto-Asset Service Licence under CBB Rulebook Volume 6 (Capital Markets), Crypto-Asset Module (CRA), issued under Decree Law No. 64 of 2006 (CBB Law). Four categories: Category 1 (reception/transmission of orders, investment advice), Category 2 (Cat-1 activities plus trading as agent, portfolio management, custody), Category 3 (Cat-2 activities plus trading as principal/dealing on own account), Category 4 (operating a licensed crypto-asset exchange plus custody). A separate Stablecoin Issuance and Offering (SIO) Module (also Volume 6) now licenses stablecoin issuers.

Verified 2026-07-02 Source: CBB Rulebook Volume 6, CRA Module: https://www.cbb.gov.bh/wp-content/uploads/2022/08/Vol-6-CRA.pdf ; Al Tamimi & Company: https://www.tamimi.com/law-update-articles/central-bank-of-bahrain-issues-regulations-governing-crypto-asset-services/

Regulator

Central Bank of Bahrain (CBB)

Verified 2026-07-02 Source: CBB official website: https://www.cbb.gov.bh/

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Recent changes

CONFIRMED: In July 2025 the CBB issued a new Stablecoin Issuance and Offering (SIO) Module, added to Rulebook Volume 6, creating Bahrain's first dedicated stablecoin licensing framework. It covers issuance, minting, burning, and reserve management of single-currency stablecoins backed by BHD, USD, or other CBB-accepted fiat currencies; requires issuers to incorporate as a Bahraini B.S.C.; mandates perpetual redemption rights for holders; and explicitly permits yield-bearing stablecoins (subject to CBB-set limits), a more permissive stance than many other jurisdictions. This confirms the '2025 stablecoin module' claim. Separately, CBB granted a new Category 3 crypto-asset licence to Fasset Financial Services W.L.L. in January 2025.

Verified 2026-07-02 Source: CBB official press release: https://www.cbb.gov.bh/media-center/central-bank-of-bahrain-issues-framework-for-regulating-stablecoin-issuance/ ; CBB SIO Module text: https://cbben.thomsonreuters.com/sites/default/files/net_file_store/Vol_6_SIO_July_2025.pdf ; Fasset licence: https://www.cbb.gov.bh/media-center/central-bank-of-bahrain-grants-crypto-service-license-to-fasset-financial-services/

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Informational only, not legal advice. Entries marked as placeholder or awaiting verification must not be relied on. Confirm all requirements with Bahrain's regulator and qualified local counsel before acting.