Warning over illegal trading in Bahrain

Cryptocurrencies aren’t controlled by the CBB and haven’t been licensed yet

  
Bahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020. Image used for illustrated purpose

Bahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020. Image used for illustrated purpose

REUTERS/Hamad I Mohammed

MANAMA: The Central Bank of Bahrain (CBB) has warned against the dangers of investing, contributing, dealing with or trading any amounts of money with any person (s) or company or institution or website including social media before ensuring they have obtained the required licences from CBB to engage in such activities.

Cryptocurrencies aren’t controlled by the CBB and haven’t been licensed yet, said the bank. Digital currencies expert and Bahrain Currency Amateurs Society president Abdulla Al Sahli stressed the need to regulate and monitor GCC digital currency trading, urging central banks in GCC countries to issue licences to protect citizens money, reports our sister paper Akhbar Al Khaleej.

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