Leading crypto exchange Binance, today announced that it has obtained a crypto-asset service provider license from the Central Bank of Bahrain (CBB). Additionally, this license for Binance represents its first approval as a crypto-asset provider within the Cooperation Council for the Arab States of the Gulf (GCC).
“I would like to thank the Bahrain team, guided by the visionary leadership of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, for the excellent work that facilitated this achievement. The Bahrain team has made demonstrates considerable foresight in its development of crypto regulations and provides the regulatory protections consumers should expect from regulators…”
– Changpeng Zhao (CZ), Founder and CEO of Binance
The new crypto-asset license will allow Binance to provide crypto-asset trading, custody, and portfolio management services to clients under the supervision of regulators in Bahrain.
“The Bahrain team has built a world-class infrastructure to support the fast-growing blockchain and crypto industry, with strong regulations and diverse talent across the financial services, fintech and banking sectors. technology.”
– Khalid Humaidan, CEO of Bahrain Economic Development Board (EDB)