Government welcomes approval of Binance Bahrain for full range of crypto exchange services | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Government welcomes approval of Binance Bahrain for full range of crypto exchange services | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

The Government of Bahrain has welcomed the decision of the Central Bank of Bahrain to issue a Category 4 licence to Binance Bahrain as a crypto-asset service provider, a first for the Kingdom, enabling the exchange platform to provide a full-suite of crypto exchange services it has available in Bahrain. The Category 4 licence approval is a significant upgrade from an initial licence granted to Binance in March of this year, the firm’s first such license in the GCC. In addition to the rights to providing crypto trading, custodial, and portfolio management services in the Kingdom, new services that will be available on the licenced Binance platform include: • Futures • Spot Trading • Initial Coin Offering • Initial Exchange Offering The Central Bank of Bahrain, as the Kingdom’s sole regulator, will ensure that service providers meet strict requirements on money laundering and terrorist financing, to protect platform and service users. It has an efficient regulatory framework applied to all financial services entities operating in Bahrain, whether they are providing crypto-services, or those within conventional banking, insurance, investment business and capital market activities. The Chief Executive of the Bahrain Economic Development Board, His Excellency Khalid Humaidan, said: “The international appetite