DUBAI: Binance has received a formal approval from the Central Bank of Bahrain (CBB) to become a crypto-asset service provider in the kingdom, the company said on Monday.
Binance, the world’s biggest cryptocurrency exchange by trading volume, said the in-principle approval came after the company applied for a licence from the CBB as part of its plans to become a fully regulated centralised cryptocurrency exchange. Apart from being the market leader globally in trading volume, Binance is also a leading and a reliable crypto-asset services provider in Asia/Gulf. Millions of people are trading cryptocurrencies through Binance platform.
Binance still had to complete the full application process, the company said in a statement, which it said it expected to happen in due course.
Binance company has got license from Bahrain at a time when Bitcoin and other cryptocurrencies are continuing their forward march after sustaining speculations, manipulated selling pressures and different curbs that aimed to discourage trading of this digital gold in the world.
