The Middle East island country of Bahrain is becoming interested in bitcoin and cryptocurrency. Their government hopes to be on the cutting edge of fintech innovations. Khalid Al Rumaihi, the chief executive of the Economic Development Board of Bahrain, mentioned the country has been eyeing the blockchain sector for some time. He hopes Bahrain can “issue bonds on digital currency.”
Regulatory Sandbox for Bitcoin in BahrainAccording to a Hindu business site, Bahrain wants to implement a regulatory sandbox for bitcoin to experiment with blockchain technology. The site quoted Rumaihi, “This [regulatory sandbox] is much like Singapore and what the UK is looking at. This is not just talk. We have launched it. You can go to the website and application process is clear. We are open for business.”
The country is open for business indeed. They recently put the regulatory sandbox into action. One news source said four businesses have already applied. Only two had currently been approved. The site specified:
"Rumaihi said the Bahrain Central Bank had recently put in place Regulatory Sandbox regulations and as many as four companies had so far applied in this regard. Two of the four had already received approval from the central bank."
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https://news.bitcoin.com/bahrain-may-adopt-bitcoin-in-the-near-future/
