Plasma

Global Stablecoin Regulation

Saudi Arabia

Saudi Arabia

by
Plasma
Plasma
Last Updated: May 20, 2026
Saudi Arabia is developing plans for nationally regulated stablecoins under the joint oversight of the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA). Announced in late 2025 by Minister Majed Al-Hogail, the initiative is aligned with Vision 2030 and aims to modernise digital payments, support cross-border transactions, and attract investment. As of May 2026, the SAMA/CMA rulebook has not been published and the framework remains at the policy-design stage. Notable 2026 developments include the January 2026 launch of the Open World RWA Tokenization Centre, the PIF's April 2026 tokenization strategy targeting $12.5B in tokenised assets by 2030, and a May 2026 initiative enabling stablecoin-based real estate settlement targeting late 2026.

Fintechnews Middle East

Asharq Al-Awsat

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Legal Status

Unclear

Regularity Clarity
3/5
Regime Status

Not found: Under Development

Classification

Other

Function Dependent

Saudi Arabia has no legal classification for stablecoins in force. Authorities have said since 2018 that virtual currencies are not approved or licensed in the Kingdom, and in late-2025 a minister announced plans to develop nationally regulated stablecoins under SAMA and CMA oversight. Until a rulebook is published, stablecoins are not recognised as legal tender or as a defined financial-product class in Saudi law, and treatment remains subject to general supervisory/AML expectations.

SAMA Standing Committee warning (2018)

Asharq Al-Awsat (Oct 27, 2025)

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Regulatory Authorities

Saudi Central Bank (SAMA)

The primary monetary authority responsible for overseeing the issuance and regulation of stablecoins, ensuring financial stability, and enforcing compliance with AML/KYC standards.

Capital Market Authority (CMA)

The main financial regulator responsible for supervising capital markets and digital asset activities, including licensing and enforcement related to stablecoin issuance and trading.

Consumer Protection

Reserve Requirements

No stablecoin-specific reserve or 1:1 backing rules are in force in Saudi Arabia. Authorities have only announced plans to develop a regulated stablecoin framework; virtual currencies remain not approved or licensed pending rules.

Auditing

No mandated third-party attestations or transparency cadence (e.g., monthly reports) currently apply to stablecoins in KSA. Any audit/disclosure duties will depend on a future SAMA/CMA framework once published.

Redemption Rights

No statutory right to par-value redemption exists. Redemption terms for any future Saudi stablecoin have not been set; policy design is ongoing and details are not yet public.

Recent Developments

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