Binance Gains Regulatory Approvals In Bahrain And Canada To Provide Crypto Services

Binance Gains Regulatory Approvals In Bahrain And Canada To Provide Crypto Services

This is a BETA experience. You may opt-out by Changpeng Zhao, founder and CEO of Binance. Binance, which runs the world's largest cryptocurrency exchange, has been green lighted by regulators in Bahrain and Canada for its affiliates to operate in the two countries. The company announced on Monday that it had obtained in-principle approval from Bahrain's central bank to establish itself as a crypto-asset service provider in the island nation. Binance said it will still have to complete the full application process, which is expected to close in "due course." If concluded, Bahrain would become the first country within the Middle East and North Africa (MENA) region to grant regulatory approval to a Binance entity. "The Central Bank of Bahrain has demonstrated leadership and forethought in addressing crypto as a future asset class," said Changpeng Zhao, the billionaire founder and CEO of Binance. "The approval recognizes Binance's commitment to comply fully with regulatory requirements and our broader commitment to anchor operations and activities in Bahrain." Zhao also announced on Twitter on the same day that a separate entity of Binance has been registered with Canada's financial intelligence agency, the Financial Transactions and Reports Analysis Centre of Canada. The entity, named