Binance gets “In-Principle” crypto-asset service provider Approval in Bahrain

CryptocurrencyNews
··1 min read

Today Binance announced that it has received “in-principle approval” to operate as a crypto-asset service provider in the Kingdom of Bahrain. The approval comes after Binance applied for a license from Bahrain’s Central Bank.

“In-principle approval” means that Binance will still have to complete the full application process pursuant to the Central Bank of Bahrain’s rules before it can commence operations as a fully regulated crypto-asset provider.

Bahrain is one of the countries leading the way on crypto regulation. In 2018, its Central Bank announced draft regulations on Crypto-asset Platform Operators (CPO), which provided a framework to regulate and license crypto-asset businesses in Bahrain.

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