Binance Crypto Services In Bahrain Expanded Under New License

Binance Crypto Services In Bahrain Expanded Under New License
фото показано с : zycrypto.com

2022-5-31 02:10

On Thursday, Binance announced that it had received a Category 4 License as a crypto assets service provider (CASP) from the Central bank of Bahrain.

“Binance is extremely proud to announce that Binance Bahrain received a category 4 license as a Crypto Asset Provider (CASP) from the Central Bank of Bahrain (CBB) on May 24, 2022.” Read the announcement.

A category-4 license seeks to cater to the business models of specialist fund managers who operate or manage market collective investment undertakings (CIUs). Introduced in September 2021, the license brings crypto exchanges under the purview of Bahrain’s regulations and creates a conducive environment for the Middle East country to progressively adopt digital asset regulations without stifling innovation.

The license now allows Binance to stretch its tentacles beyond crypto assets trading to offering the next iteration of web3 services, custodial services, and portfolio management under the supervision of Bahrainian regulators. The crypto exchange is also the first in its category to be granted a category 4 license in the country.

“The upgrade to a Category 4 license in the Kingdom of Bahrain is a landmark achievement for Binance and further signifies our commitment to being a compliance-first exchange. This will allow us to provide the full suite of products and services that users have come to expect from an exchange, in a safe and well-regulated environment.” Said Richard Teng, Head of MENA at Binance.

The latest license comes on the heels of the crypto exchange being granted crypto-asset service provider licenses by Bahrain and Dubai in March. Despite being slow in adopting digital asset regulations a few years ago, middle east nations are fast embracing crypto regulations, attracting an endless list of crypto exchanges and blockchain firms. A 2021 report by Chainalysis described the middle east as one of the fasted growing regions for crypto assets, accounting for roughly 7% of the global trading volume.

Binance which is the largest crypto exchange in the world with about $80 billion in daily traded volume has previously had run-ins with regulators, receiving multiple warnings in Hong Kong, South Africa, the UK, and Singapore. Its determination to regain trust from regulators worldwide in the past four years has thus earned it a list of licenses, with countries in the Middle East leading.

Having acquired the said licenses, Binance now plans to launch trading and payment services in Bahrain and Dubai as early as June with recruitment already ongoing according to a May 22 report by the South China Morning Post.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

license binance bahrain crypto provider service assets

license binance → Результатов: 57


Фото:

Binance расширила лицензию в Бахрейне

24 мая биткоин-биржа Binance получила от Центрального банка Бахрейна (CBB) лицензию поставщика услуг в сфере цифровых активов категории 4. We're excited to announce that #Binance has become the first exchange to be granted a category 4 license by the Central Bank of Bahrain.

2022-5-26 13:52


Binance.US получила лицензию в Пуэрто-Рико

Американское подразделение биткоин-биржи Binance получило лицензию провайдера денежных переводов от финансового регулятора Пуэрто-Рико. Excited to add another Money Transmitter License, as #PuertoRico marks our fourth in four months.

2022-4-20 12:53


Binance and Coinbase Apply for a License in Singapore, Total Applicants Halved from Last Year

Both Binance and Coinbase’s Singapore units are among 70 applicants for a license to provide cryptocurrency services in the country. According to the central bank Monetary Authority of Singapore’s (MAS) website, the number of firms operating with an exemption while their application is processed has now declined from 170 that last year applied for a […] The post Binance and Coinbase Apply for a License in Singapore, Total Applicants Halved from Last Year first appeared on BitcoinExchangeGuide.

2021-11-12 18:43


Регуляторы Таиланда подали иск против Binance

Комиссия по ценным бумагам и биржам Таиланда (SEC) заявила, что Binance работает в стране без лицензии. Регулятор подал иск о возбуждении уголовного дела. SEC files a criminal complaint against Binance for operating digital asset business without license https://t.

2021-7-3 14:34


Binance Applies for Singapore Crypto License Under The New Payment Services Act

Binance crypto exchange through its parent company has applied for Singapore’s new operating license. This follows an upgrade of laws governing crypto in the FinTech friendly jurisdiction. Singapore sought to advance its payments’ ecosystem legalities as more firms’ leveraging blockchain tech and tokenization set up in the country.

2020-2-17 20:06


Чанпэн Чжао: слухи о легализации бирж в Китае не соответствуют действительности

По словам главы биржи Binance Чанпэна Чжао, гуляющий по сети документ о якобы легализации бирж в КНР — вовсе не лицензия Народного банка Китая, а простое свидетельство о регистрации бизнеса. Let’s put this to bed.

2019-11-3 16:37