Binance, a major cryptocurrency exchange , announced on Thursday that its branch in Bahrain has received a Category 4 license as a crypto asset service provider (CASP) from the Central Bank of Bahrain (CBB).
According to the press release, it implies that it can offer a full suite of crypto services across the country, becoming the first exchange to be granted such a license. Now, the crypto exchange services offered by Binance Bahrain will be under the supervision of the country’s regulators.
“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,” Richard Teng, the Head of MENA at Binance, commented.
He added: “We are grateful to the Central Bank of Bahrain for their support and vision in granting Binance Bahrain this license. Bahrain is well on the path to becoming a leading global hub for crypto.”
Binance in France and Thailand
Recently, Binance France was granted a Digital Asset Service Provider (DASP) registration by the Autorité des marchés financiers (AMF) with the approval of the Autorité de Contrôle Prudentiel et de Résolution (ACPR).“The registration of Binance France as a DASP is a key milestone for crypto in Europe. In particular, the new levels of protection for AML will help grow crypto adoption in France and Europe. Greater adoption will help bring better liquidity to the market, which will be welcomed by users and the community in particular,” David Princay, the CEO of Binance France, highlighted in the announcement.
In April, Binance formed a joint venture with Gulf Energy Development (Sarath Ratanavadi) to apply for a license to operate as a digital asset exchange platform in Thailand.
