Bahrain: Penalty on Unlicensed Virtual Currency Trading Platforms

According to the Head of the Financial Crimes and Money Laundering Prosecution, four expatriates were fined for operating a trading platform without license.

The Second Circuit Criminal Court ruled that the four expatriate defendants who ran a platform for trading virtual currencies and provided trading services on it, without obtaining a license from the Central Bank of Bahrain were fined.

The first and second defendants were slapped  a fine of 100,000 Dinar and 50,000 Dinar respectively.

Each of the third and fourth defendants were fined one million Dinars.