Saudi Arabia's cautious but evolving approach to virtual assets — SAMA's position on cryptocurrency, CMA guidance on digital securities, and Saudi Arabia's participation in the mBridge CBDC project.
Ask GCC LexAI about Virtual Assets →The Saudi Central Bank (SAMA) has historically cautioned against trading or using cryptocurrencies, citing volatility and consumer protection risks. SAMA has not issued a general VASP licensing framework but is monitoring international developments closely, including FATF recommendations and regional peers' approaches.
The Capital Market Authority (CMA) has issued guidance clarifying that digital securities (tokenised shares, bonds, and investment products) fall under the existing securities regulatory framework. The CMA's Fintech Lab provides a sandbox pathway for testing digital securities-related business models.
Saudi Arabia has been an active participant in Project mBridge — the BIS-led multi-CBDC platform for cross-border payments involving SAMA alongside UAE, Hong Kong, and China. Domestically, SAMA is exploring a retail CBDC and has published research on digital currency infrastructure.