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Author: Admin | 2025-04-28
Licensee managing or agreeing to manage those accepted crypto-assets has a discretion to invest in one or more accepted crypto-assets.Crypto-asset Custodian: safeguarding, storing, holding, maintaining custody of or arranging on behalf of clients for accepted crypto-assets. Investment Advice: Giving, offering or agreeing to give, to persons in their capacity as investors or potential investors or as agent for an investors or potential investor, a personal recommendation in respect of one or more transactions relating to one or more accepted crypto-assets.For the purposes of Paragraph CRA-1.1.6(f), a “personal recommendation” means a recommendation presented as suitable for the client to whom it is addressed, or which is based on a consideration of the circumstances of that person, and must constitute a recommendation to buy, sell, exchange, exercise or not to exercise any right conferred by a particular accepted crypto-asset, or hold a particular accepted crypto-asset. A recommendation is not a “personal recommendation” if it is issued exclusively through distribution channel or to the public.Crypto-asset related activities are deemed to be undertaken ‘within or from the Kingdom of Bahrain’, if, for example, the person concerned: Is incorporated in the Kingdom of Bahrain;Uses an address situated in the Kingdom of Bahrain for its correspondence; orDirectly solicits clients within the Kingdom of Bahrain.ExclusionsThe following activities are excluded from regulated crypto-asset services:the creation or administration of crypto assets;the development, dissemination or use of software for the purpose of creating or mining a crypto asset; ora loyalty program.P.S. Insights on Cryptocurrency Legal IssuesMost jurisdictions and authorities have
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