2 years ago
The Central Bank of Bahrain has awarded crypto speech Binance a licence that allows it to run successful the country, providing services including crypto trading, custody, and portfolio absorption services to Bahraini customers.
The licence is Binance’s archetypal successful the Middle East/North Africa (MENA) region.
“The licence from Bahrain is simply a milestone successful our travel to being afloat licensed and regulated astir the world,” Changpeng Zhao, laminitis and CEO of Binance, wrote successful a property announcement.
Binance was granted preliminary support for the licence successful December, but was required to implicit the afloat exertion process earlier being awarded the afloat license.
In 2021, Binance came under fire from regulators successful a fig of countries, including the United Kingdom and Japan.
The oil-rich Kingdom of Bahrain, however, seems to regards Binance successful a much affirmative airy and sees the licence arsenic a measurement successful the close absorption for its nascent crypto industry.
Khalid Humaidan, CEO of the Bahrain Economic Development Board, wrote: “Team Bahrain has built a world-class infrastructure to enactment the fast-growing blockchain and crypto industry, with robust regulations. … Collaboration with manufacture leaders specified arsenic Binance volition further heighten our ngo to found the Kingdom of Bahrain arsenic a starring concern hub.”
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Cheyenne Ligon is simply a CoinDesk quality newsman with a absorption connected crypto regularisation and policy. She has nary important crypto holdings.
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