On September 18, the Central Bank of Bahrain (CBB) launched a stablecoin issuance and sale (SIO) regulatory module, becoming the first comprehensive regulatory framework of its kind in the Gulf Cooperation Council (GCC) region. The framework allows only fiat-backed stablecoins, which can be anchored to Bahraini dinars, US dollars, or other fiat currencies explicitly approved by the central bank, and prohibits algorithmic or commodity-backed stablecoins. Issuers are required to obtain a central b...