Binance Becomes Crypto-Asset Service Provider in the Kingdom of Bahrain
Binance is marking a significant achievement that also marks a boost for crypto mass adoption. This has been one of the main goals that the crypto space has seen and more moves are taking place in this direction. Check o...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Binance is marking a significant achievement that also marks a boost for crypto mass adoption. This has been one of the main goals that the crypto space has seen and more moves are taking place in this direction.
Check out the latest reports coming from Binance.
Binance marks an important achievementBinance’s official blog post notes the following:
“Binance has received in-principle approval from the Central Bank of Bahrain (CBB) to establish itself as a crypto-asset service provider in the Kingdom of Bahrain. The in-principle approval comes after Binance applied for a license from the CBB as part of its plans to become a fully-regulated centralised cryptocurrency exchange.”
The same blog post noted this:
“The move from CBB makes it the first regulator in the Middle East North Africa (MENA) region to grant an in-principle approval to a Binance entity. The in-principle approval from CBB still requires Binance to complete the full application process, which is expected to be completed in due course.”
Binance in the newsAt the beginning of this month, we were revealing that Binance Asia Services, the Singapore entity of Binance, announced on Wednesday that it is acquiring an 18% stake in Hg Exchange.
This is a Singapore-based private securities exchange.
The BlockCrypto notes that it is not clear how much Binance Asia is investing in Hg to acquire the stake.
The same online publication notes that A Binance spokesperson declined to comment to The Block when reached.
The deal is subject to regulatory approvals, and an expected closing timeline is unknown, according to the very same notes.
The article also made sure to highlight the fact that the Hg Exchange (HGX) is a private securities exchange built on the Zilliqa blockchain, “which facilitates trading in tokenized shares of private companies. HGX is also working on listing alternative digital assets, including wine, art, and real estate, said Binance.”
The post Binance Becomes Crypto-Asset Service Provider in the Kingdom of Bahrain first appeared on CryptoGazette - Cryptocurrency News.Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Bybit Wins Dubai VARA Approval For Spot Crypto Exchange Services
TL;DR: Bybit says its Dubai entity has secured a VARA virtual-asset service provider licence covering spot exchange activity; deri...
Swell Freezes swETH and rswETH Withdrawals Until It Corrects Their Exchange Rates
Holders of Swell‘s swETH and rswETH cannot deposit or withdraw through the protocol after the team said at 2:39 a.m. ET Friday it...
Ethereum sees biggest exchange withdrawal in four months as October ETF losses top $1 billion
About 169,770 ETH left centralized exchanges on net in one day, Santiment reported Oct. 23, the largest daily withdrawal in more t...
Arthur Hayes says high-FDV tokens no longer pump on Binance
The shift away from high-FDV token pumps on Binance signals a potential move towards fairer token distribution models, impacting r...
Bank of Korea Wants Stablecoins Written Into Forex Law as Crypto Bill and Tax Fight Come to a Head
Bitcoin Magazine Bank of Korea Wants Stablecoins Written Into Forex Law as Crypto Bill and Tax Fight Come to a Head The Bank of Ko...
HSBC rolls out HKD stablecoin RedCoin as it prepares tokenized investment services
HSBC's stablecoin initiative could accelerate digital finance adoption, enhancing transactional efficiency and broadening investme...