The cryptocurrency exchange Binance I announced that the Central Bank of Bahrain had obtained a license to Category 4Updating its license will allow it to offer a wider range of services. The exchange is also the first crypto service provider in the country with a Category 4 license.
The license of Binance in Bahrain has been updated.
Binance will be allowed to step up their game after Get a full license to provide crypto-asset services. The latter was approved with the Central Bank of Bahrain in March. The crypto-asset enriched license allows Binance to offer consumers crypto-asset trading, custody and portfolio management services under the supervision of Bahraini regulators.
It is the first crypto service provider in the country to receive a Category 4 license. This representative decision a significant change compared to last year, when regulators targeted exchanges in multiple countries.
I KNOW Eruption At MarajGovernor of the Central Bank of Bahrain, said: “Developing regulations aligned with global trends is a clear goal for our CBB. We continue to work with partners and industry leaders such as Binance to develop regulations that enable innovation and best practices. »
Related conference: Binance signs MoU with Kazakhstan to support development of crypto market in the country.
The expansion and compliance plan for Binance
These last weeks, Binance to obtain a series of licenses in different countries. All this to show who is satisfied. As a reminder, lawmakers around the world have expressed more than once their concern over the impact of the exchange, which also fell short of previous years. In recent years, Japan, Israel and the UK have all I accused Binance compliance-related weaknesses.
The world’s largest cryptocurrency exchange seems to have taken this to heart. Also, actively maintain the work to ensure that it meets all standards.
In turn, most of their recent moves have been in line with the company’s growing focus on the Middle East. The world’s largest cryptocurrency exchange plans to offer payment and trading services to dubai and to Bahrain of June, and has already received a regulatory license to operate at Abu Dhabi.
Furthermore, Ihe Until recently I applied for a license in Germany. In others, it has a limited license to operate in Dubai in March and a license to operate in France earlier this month. Despite some regulatory challenges in Europe last year, Europe will once again be in the spotlight.
Also read: Ripple sees an IPO after regulating its processes with the SEC.