Binance Wins Crypto-Asset Service Provider License In Bahrain

Binance, the world's largest cryptocurrency exchange, has been granted a crypto-asset service provider license from the Central Bank of Bahrain (CBB), reported Reuters.
This is the first such license in the Gulf Cooperation Council (GCC). The license permits crypto-asset trading, custodial services, and portfolio management.
"The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world. The regulatory requirements will "protect users with strong anti-money laundering and counter-terrorism financing policies," stated Binance CEO Changpeng Zhao in a joint statement with Bahraini authorities.
Binance is also building its presence in the United Arab Emirates. It signed a cooperation deal with Dubai World Trade Centre Authority and set up an international virtual asset ecosystem.