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Bahrain provides Binance with its first Gulf service licence

News Desk by News Desk
March 15, 2022
in Latest News, Tech, Top News, World
Reading Time: 1 min read
Binance assures cooperation to FIA for scam investigation

The Bahrain central bank has provided the crypto-asset service licence to Binance, the largest cryptocurrency exchange. This is the first collaboration of Binance with a member of the Gulf Cooperation Council (GCC).

Chief Executive Officer (CEO) of Binance Changpeng Zhao called the event a milestone for the company. He added that users would be protected under the counter-terrorism finance and anti-money laundering policies. Binance has faced a ban across the world from multiple financial regulators.

Through the licence by Bahrain, the crypto exchange will be able to continue trading of crypto-assets, manage portfolios, and provide custodial services.

Earlier in December, Binance and Dubai World Trade Centre Authority (DWTCA) had signed a cooperation deal to create a virtual asset ecosystem.

News Desk

News Desk

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