Binance announced today that the Central Bank of Bahrain has granted it a full license for cryptocurrency. “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.
Binance now licensed in Bahrain
Binance cryptocurrency exchange announced Monday it had been awarded a licence by the Central Bank of Bahrain, CBB.
Changpeng Zhao CZ (CZ), the founder and CEO Binance, tweets:
The Central Bank of Bahrain has granted Binance the first license for global crypto-asset providers in The Cooperation Council for the Arab States of the Gulf.
He added: “The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world.”
In-principle approval was granted by the central bank to Binance in December 2017. In-principle approval does not mean that Binance has completed the entire 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.”
This announcement includes:
Binance will be able to offer crypto-asset trading and custodial service to clients under supervision from the Bahrain regulators.
How do you feel about Binance being granted a license in Bahrain to run a cryptocurrency exchange business? Please comment below.
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