Bahrain Is Keen Towards Adopting Cryptocurrencies.
The Kingdom of Bahrain is a constitutional legal monarchy of over 30 islands in Persian Gulf. Bahrain is adopting bitcoin-friendly or cryptocurrencies approach in its endeavor to emerge as a FinTech hub in the region. Bahrain shown interest in adopting crypto currencies like bitcoin have wide scope and ‘country level’ acceptance of blockchain technologies. In a lecture at MIT Innovation Forum in Manama capital of Bahrain. On Wednesday, Khalid Al Rumaihi – The chief executive authority from Bahrain’s Economic Development Board announced plans for initiating a regulatory sandbox (exchange) in the country. The EDB is a formal government agency assigned which is assigned to plan and implement economic development strategies.
All Crytpocurrencies Related Proceeding – Al Rumaihi
Notably, He indicated that Bahrain’s Finance Authorities . the country’s financial watchdog and authorities are also serious towards digital currencies like bitcoin.Furthe he also revealedmentioned that extent to which Bahrain could indulge and use digital currencies . Questioning the government official announced that a bitcoin exchange operator in Saudi Arabia inquires toward establishing a bitcoin sandbox in Bahrain. “We are working with the CBB of Bahrain on this,” he added.All digital currency-related proceedings in the private sectormay occur in a regulatory sandbox (exchange) recentlyrevealed by the country’s central bank.
