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๐ŸŽ“ Bahrain grants Binance the first cryptocurrency license in the Gulf. here are the details

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Binance announced that it has obtained a cryptocurrency service provider license from the Central Bank of Bahrain (CBB), which is a landmark achievement for Binance in the Middle East.

In details, Bahrain was able to issue the license through the Cooperation Council for the Arab States of the Gulf, as company CEO Zhang Bing Zhao announced the license for the cryptocurrency service provider on March 14.

He said: โ€œThe Bahrain license is a milestone in our journey towards becoming fully licensed and regulated worldwide. I would like to thank the Bahrain team, guided by the wise leadership of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, for their wonderful work in facilitating this achievement. The Bahrain team has shown great insight in developing cryptocurrency regulations and providing the regulatory protection that consumers should expect from regulators around the world.”

He continued: โ€œI am proud of the hard work the Binance team has put into meeting the strict CBB standards, not only locally but globally, by ensuring that we meet and exceed the requirements of regulators and protect users through of the fight against money laundering and terrorism. financing policies.

The cryptocurrency license will allow Binance to provide cryptocurrency trading, custody and portfolio management services to clients under the supervision of Bahraini regulators.

Rasheed Al Maraj, Governor of the Central Bank of Bahrain, commented: โ€œDeveloping regulations in line with global trends is a key objective for us at the CBB. We continue to work with partners and industry leaders like Binance to develop regulations that enable innovation and best practices.โ€

Khalid Humaidan, CEO of the Bahrain Economic Development Board (EDB), added: โ€œThe Bahraini team has built a world-class infrastructure to support the fast-growing blockchain and cryptocurrency industry, with strict regulations and diverse talent in services. financial and financial. technology. Collaboration with industry leaders like Binance will further our mission to establish the Kingdom of Bahrain as a leading trading hub.โ€

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