The world’s largest crypto exchange exchange Binance has been granted a crypto-asset service provider license from the Central Bank of Bahrain (CBB).
The crypto-asset service provider license marks Binance’s first regulatory approval the Middle East/North Africa (MENA) region.
Binance was granted preliminary approval for the license in December 2021, but was required to complete the full application process before being awarded the full license.
“The licence from Bahrain is a milestone in our journey to being fully licensed and regulated around the world,” said Binance CEO Changpeng Zhao. “I’m proud of the hard work of the Binance team to meet the stringent criteria of the Central Bank of Bahrain, not just locally but globally by ensuring that we meet and exceed the requirements of regulators and protect users with strong anti-money laundering and counter-terrorism financing policies.”