THELOGICALINDIAN - The Middle East island country of Bahrain is acceptable absorbed in bitcoin and cryptocurrency Their government hopes to be on the acid bend of fintech innovationsKhalid Al Rumaihi the arch controlling of the Economic Development Board of Bahrain mentioned the country has been eyeing the blockchain area for some time He hopes Bahrain can affair bonds on agenda currency
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Regulatory Sandbox for Bitcoin in Bahrain
According to a Hindu business site, Bahrain wants to apparatus a authoritative head for
bitcoin to agreement with blockchain technology. The armpit quoted Rumaihi, “This [regulatory sandbox] is abundant like Singapore and what the UK is attractive at. This is not aloof talk. We accept launched it. You can go to the website and appliance action is clear. We are accessible for business.”
The country is accessible for business indeed. They afresh put the authoritative head into action. One account antecedent said four businesses accept already applied. Only two had currently been approved. The armpit specified:
Bahrain: A Pioneer in the Fintech Space
Bahrain is aflame to accept crypto analysis aural their abridgement in adjustment to move 
ahead of the crowd. They appetite to be innovative. They appetite to be aerial tech. An Arabian business site quoted Rumaihi. He said, civic acceptance of blockchain technology will accredit the island nation to become a baton in the beginning ecosystem.
Rumaihi added that the accomplished banking industry is in the bosom of actuality disrupted by blockchain technology. Now blockchain will alleviate a accomplished new era for claimed affairs through the internet, according to the Bahrain government. It will absolutely adapt the fiduciary landscape, they believe. In this regard, he hopes Bahrain can advance a advancing blockchain ecosystem.
Regional Fintech Ecosystem
Besides Bahrain, it appears that added Middle East and Gulf states plan to actualize a abundant fintech environment. The UAE and added zones in the breadth achievement to account from blockchain and crypto-financial technologies. They are in the action of appointing fintech regulators to advice the breadth abound and balance with this new technology.
The Arabian business site summarized, saying, “Other Gulf states accept appear affairs to advance the bounded fintech ecosystem, such as the UAE, area banking chargeless area the Abu Dhabi Global Market (ADGM) has apparent affairs to authorize a fintech regulator and active cooperation agreements with fintech players.”
What do you anticipate about Bahrain accepting so complex in cryptocurrency? Is this acceptable for the Middle East? Is it acceptable for bitcoin? Let us apperceive in the comments area below.
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