Who is the regulatory authority in Bahrain?

The regulatory authority in Bahrain for crypto-asset-related activities is the Central Bank of Bahrain (CBB).

What is the minimum threshold for the Crypto Travel Rule in Bahrain?

Travel Rule information transmission obligations apply regardless of transaction amount.

What personally identifiable information must VASPs collect and share for the Crypto Travel Rule in Bahrain?

According to AML-2A.2.7 of the AML-2A: Money Transfers and Accepted Crypto-asset Transfers regulation, information accompanying all accepted crypto-asset transfers as well as wire transfers must always contain:

Information accompanying all accepted crypto-asset transfer as well as wire transfer must always contain:

(a) The name of the originator;

(b) The originator account number (e.g. IBAN or crypto-asset wallet) where such an account is used to process the transaction;

(c) The originator’s address, or national identity number, or customer identification number, or date and place of birth;

(d) The name of the beneficiary; and

(e) The beneficiary account number (e.g. IBAN or crypto-asset wallet) where such an account is used to process the transaction.

Are there differences in customer PII requirements for cross-border transfers versus transfers within Bahrain?

According to AML-2A.2.1 of the AML-2A: Money Transfers and Accepted Crypto-asset Transfers regulation, Capital Market Licensees (including crypto-asset licensees) must consider all transfers of accepted crypto-assets as cross-border transfer rather than domestic transfer.

What are the non-custodial or self-hosted wallet requirements in Bahrain?

Self-hosted wallet requirements in Bahrain are described below:

AML-2A.2.11: The CBB recognises that unlike traditional fiat currency wire transfer, not every accepted crypto-asset transfer involves (or is bookended by) two institutions (crypto-asset entities or financial institution). In instances in which an accepted crypto-asset transfer involves only one financial institution on either end of the transfer (e.g. when an ordering financial institution sends accepted crypto-assets on behalf of its customers, the originator, to a beneficiary that is not a customer of a beneficiary financial institution but rather an individual user who receives the accepted crypto-asset transfer using his/her own distributed ledger technology (DLT) software, such as an unhosted wallet), the financial institution must still ensure adherence to Paragraph AML-2A.2.7 for their customer.

The CBB does not expect that financial institutions, when originating an accepted crypto-asset transfer, would submit the required information to individual users who are not financial institutions.

However, financial institutions receiving an accepted crypto-asset transfer from an entity that is not a financial institution (e.g. from an individual accepted crypto-asset user using his/her own DLT software, such as an unhosted wallet), must obtain the required originator information from their customer.

Why choose Notabene for crypto Travel Rule Compliance in Bahrain?

Choosing Notabene for crypto Travel Rule compliance in Bahrain ensures that Virtual Asset Service Providers (VASPs) meet the rigorous standards set by the Central Bank of Bahrain (CBB) efficiently and securely. Notabene’s SafeTransact platform offers pre-transaction decision-making capabilities, enabling real-time identification and screening of all counterparties to prevent high-risk activities before they occur.

With a robust network supporting over 1,000 VASPs across 20+ jurisdictions, Notabene facilitates seamless exchange of Travel Rule information, compliance with sanctions screening, and verification of self-hosted wallets. The platform’s automated workflows and comprehensive dashboard simplify adherence to Bahrain’s requirement for continuous data transmission, regardless of transaction amount. By integrating industry-leading compliance tools and ensuring data privacy and security, Notabene empowers VASPs in Bahrain to comply with global standards while fostering trust and operational efficiency.