(Twitter) The Central Bank of Bahrain has granted Binance a license to provide fully regulated crypto-asset services in the country.
The central bank issued the license via the Cooperation Council for the Arab States of the Gulf, dubbed GCC.
The bank’s governor HE Rasheed Al Maraj says the institution was aligning with global trends in the license issuance, with a focus on enabling best practices and innovation.
The license means that Bahrain will become the first in the Middle East to welcome fully regulated services, including trading, portfolio management, and custody.
The license award happens a few months after Bahrain gave Binance an in-principal approval to operate in the country.
The approval grants Binance a chance to now continue expanding in global jurisdictions while also ticking the local regulations. The crypto exchange also seeks to invest in traditional businesses to enhance crypto acceptance and influence policy.BNBUSD is down -2.60%.
