- Binance, the world's largest cryptocurrency exchange, has been granted a crypto-asset service provider license from the Central Bank of Bahrain (CBB), reported Reuters.
- This is the first such license in the Gulf Cooperation Council (GCC). The license permits crypto-asset trading, custodial services, and portfolio management.
- "The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world. The regulatory requirements will "protect users with strong anti-money laundering and counter-terrorism financing policies," stated Binance CEO Changpeng Zhao in a joint statement with Bahraini authorities.
- Binance is also building its presence in the United Arab Emirates. It signed a cooperation deal with Dubai World Trade Centre Authority and set up an international virtual asset ecosystem.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
