Binance Coin: Binance gets its first Gulf crypto licence in Bahrain

Synopsis

The licence permits crypto-asset trading, custodial services and portfolio management, the statement said.

Binance is also building its presence in Gulf neighbour the United Arab Emirates.DUBAI- The world’s largest cryptocurrency exchange Binance has been given a crypto-asset service provider licence by Bahrain’s central bank, its first such licence in the Gulf Cooperation Council (GCC), the company and the bank said on Tuesday.

“The licence from Bahrain is a milestone in our journey to being fully licensed and regulated around the world,” said Binance Chief Executive Officer CEO Changpeng Zhao in a joint statement with Bahraini authorities.

The regulatory requirements will “protect users with strong anti-money laundering and counter-terrorism financing policies,” he added.
Presented By

Did you Know?

Billed as India’s first blockchain wedding, in the presence of a digital priest,

View Details »
Financial regulators across the world have targeted Binance, with some banning the platform from certain activities and others warning consumers that it was unlicensed to operate in their jurisdictions.

The licence permits crypto-asset trading, custodial services and portfolio management, the statement said.

Binance is also building its presence in Gulf neighbour the United Arab Emirates.

In December it said it was working with Dubai World Trade Centre (DWTC) to help set up an international virtual asset ecosystem there and assist with the development of virtual asset regulations.

Dubai, one of the UAE’s seven emirates, last week adopted its first law governing virtual assets and established a regulator to oversee the sector.
Presented By

Crypto Returns Calculator

0x1inchAaveAirSwapAlgorandAmbire AdExAnkrAugurAvalancheAxie InfinityBancorBand ProtocolBasic Attention TokenBinance CoinBitcoinBitcoin CashCOTICardanoChainlinkChilizChromiaCivicCompoundCosmosCurve DAO TokenDFI.moneyDIADaiDashDecentralandDigiByteDogecoinEOSElrondEnjin CoinEthereumEthereum ClassicFantomFetch.aiFilecoinGASGalaGolemHarmonyIOSTIndian RupeeInternet ComputerKyber NetworkLitecoinLivepeerLoopringMakerMetalNEMNEONKNNanoNumeraireOmiseGOPax DollarPolkadotPolygonPower LedgerQuantstampQuarkChainRepublic ProtocolRequestRippleShiba InuSolanaStatusStellarStorjSushiSwipeSynthetix Network TokenTerraTetherTezosThe GraphThe SandboxTheta FuelTheta NetworkThresholdTronTrue USDUSD CoinUniswapVeChainWavesZilliqaaelfdistrict0xiExec RLCyearn.finance

Bought onCurrent Value Buy

Pick the best companies to invest

BECOME AN ETPRIME MEMBER

Source

Updated: 03/16/2022 — 08:00