In a news piece on Oman News agency, the Board of governors of the Central Bank of Oman, held their third meeting for 2023 where the followed up on developments as well as reviewed the international stance on cryptocurrencies as well as related studies conducted by the executive management team at the central bank on cryptocurrencies. This comes as Oman works on its virtual asset regulations, having   at the end of July 2023 announced a public consultation paper on virtual assets regulatory framework by the Oman Capital Market Auhtority. The Capital Market Authority, Sultanate of Oman (CMA), which regulates and develops Oman's financial markets for the capital market and insurance sectors, had earlier announced its plans to establish the new regulatory framework for Virtual Assets (VA) and Virtual Asset Service Providers (VASP). The proposed new regulatory framework is envisaged to cover activities such as crypto assets, tokens, crypto exchanges, and initial...

  During a discussion panel at the Youth Center in Muscat Oman, the Oman Central Bank governor Tahir Bin Salim Al Amri stated that the Central Bank of Oman along with many other central banks globally do not recognize crypto as currencies. He stated, “It is not a means of payment it is a commodity or an asset of some sort that is being traded mainly for capital gains.” He also noted that while the Central Bank of Oman is keeping an open mind while maintaining caution because of the risky nature of crypto assets. This month the Oman Capital Authority announced that it would be launching its virtual asset framework. Commenting on this the governor Al Amri stated that they were part of the creation of the framework.   He also noted that the Central Bank of Oman was in the process of developing its CBDC ( Central Bank Digital Currency), with a final decision expected to be announced at the end of 2023. The proposed new regulatory framework is envisaged to cover activities s...

The Executive President of the Central Bank of Oman, Mr. Tahir Salim Al Amri, commented during the 7t Edition of the new Age Banking Summit on the topic of CBDCs (Central Bank Digital Currencies) As per a tweet from Oman News Agency stated, “The Central Bank of Oman is working to issue its own CBDC. Many central banks are studying the possibility of issuing their own CBDCs and the Central Bank of Oman is committed to supporting innovation in the financial sector." He also mentioned that work was underway to open banking API services and overcoming challenges that face the digitization sector, and stressed the importance of cyber security. In April 2022, Oman Capital Market Authority announced that it would incorporate real estate tokenization within its virtual assets regulation as well as license crypto exchanges. The Oman virtual asset regulation will be finalized by Q3 of 2022. Kemal Rizadi, Advisor at the Oman Capital Market Authority made these comments during the ...