The commodity status of crypto coins for now allows the legality of trading, but the assets will not be considered legal tender. The Kingdom of Bahrain’s Fintech Bay initiative is seen to attract fintech companies from across the globe, including cryptocurrency-focused operations by providing them with world-class infrastructure.
The move is the latest program of Bahrain following similar initiatives by several Middle Eastern countries towards accepting the digital asset revolution.
The Fintech Bay claims to be the largest co-working space in the region and offers opportunities for any global companies who want to set up operations in the country by assisting in starting up and helping them grow.
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