Bahrain regulators are attracting cryptocurrency startups through free fast track

On November 4th, the Bahrain Economic Development Board (EDB) is proposing a new cryptocurrency regulatory measure to attract cryptocurrency startups through its free fast-track setup process, which includes residency, visa requirements and business registration, Guide to local incubators and accelerators as well as receiving grants and financial support. The country is competing with several other countries, including Dubai, Abu Dhabi and Saudi Arabia, to become a major regional entrepreneurial centre, and financial technology is seen as a rewarding industry. Bahrain has established a huge financial technology center and opened a regulatory sandbox. Now hope that the fast track system will attract more outside companies into Bahrain.