Binance Now Fully Licensed by Central Bank of Bahrain to Offer Crypto Services
Cryptocurrency exchange Binance has announced that it has received a full license from the Central Bank of Bahrain. “The crypto asset license will allow Binance to provide crypto-asset trading, custodial services, and po...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Cryptocurrency exchange Binance has announced that it has received a full license from the Central Bank of Bahrain. “The crypto asset license will allow Binance to provide crypto-asset trading, custodial services, and portfolio management to customers under the supervision of the Bahrain regulators,” said the exchange.
Cryptocurrency exchange Binance announced Monday that it has been granted a crypto asset service provider license from the Central Bank of Bahrain (CBB).
Changpeng Zhao (CZ), founder and CEO of Binance, tweeted:
Binance has been granted the first license for a global crypto-asset provider in The Cooperation Council for the Arab States of the Gulf (GCC) by the Central Bank of Bahrain.
He added: “The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world.”
The cryptocurrency exchange company received in-principle approval from the central bank in December last year. And in-principle approval means that Binance still needed to complete the full application process.
Rasheed Al Maraj, governor of the Central Bank of Bahrain commented: “Developing regulations aligned with global trends is a key objective for us at the CBB. We continue to work with partners and industry leaders such as Binance to develop regulations that enable innovation and best practices.”
The announcement adds:
The crypto asset license will allow Binance to provide crypto-asset trading, custodial services and portfolio management to customers under the supervision of the Bahrain regulators.
What do you think about Binance receiving a license to operate a crypto exchange business in Bahrain? Let us know in the comments section below.
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 Bitcoin NewsRelated market context
Binance files for Brazil crypto license ahead of Friday deadline
The exchange is delisting 22 crypto assets for Brazilian users and hopes talks with the central bank will allow it to restore some...
Binance files for Brazil crypto license ahead of October 30 deadline
Binance's proactive licensing move in Brazil highlights the growing regulatory pressures on crypto exchanges, impacting service of...
Dutch central bank reports €3.2 billion in crypto held by households
The report highlights the growing integration of crypto in Dutch households, emphasizing regulatory oversight and potential market...
Janus Henderson launches first tokenized fund licensed to track the Nasdaq-100
The launch of JQQQ could accelerate institutional adoption of blockchain in finance, enhancing liquidity and trust in tokenized eq...
Binance blocks North Korea-linked cyberattacks, reports no asset losses
Binance's defense against North Korean cyberattacks highlights the critical need for robust security measures and user vigilance i...
Ripple Gets Final Federal Approval for a Trust Bank to Manage Its Stablecoin’s Reserves
Ripple announced on Oct. 26 that its trust bank has received its final federal charter, creating a federally supervised entity to...