{"id":416265,"date":"2022-03-15T07:03:22","date_gmt":"2022-03-15T04:03:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-awarded-bahrain-crypto-service-provider-license\/"},"modified":"2022-03-15T07:03:22","modified_gmt":"2022-03-15T04:03:22","slug":"binance-awarded-bahrain-crypto-service-provider-license","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-awarded-bahrain-crypto-service-provider-license\/","title":{"rendered":"# Binance awarded Bahrain crypto service provider license"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a94bfc35f4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a94bfc35f4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/binance-awarded-bahrain-crypto-service-provider-license\/#%E2%80%9D_Binance_awarded_Bahrain_crypto_service_provider_license_%E2%80%9C\" >&#8221; Binance awarded Bahrain crypto service provider license &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Binance_awarded_Bahrain_crypto_service_provider_license_%E2%80%9C\"><\/span>&#8221; Binance awarded Bahrain crypto service provider license &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMzgzMTcxZWYtMjEyNC00ZTBlLTg3MzctMzRmNWUzNWNmZTJiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Crypto exchange Binance will provide fully regulated services to its first country in the Middle East thanks to a license granted by Bahrain\u2019s central bank.<\/p>\n<p>Bahrain was able to issue the license through the Cooperation Council for the Arab States of the Gulf (GCC). The world\u2019s largest exchange and CEO Changpeng Zhao announced the crypto-asset service provider license on March 14. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/TeamBahrain?src=hash&amp;ref_src=twsrc%5Etfw\">#TeamBahrain<\/a>.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a> has been granted the first license for a global crypto-asset provider in The Cooperation Council for the Arab States of the Gulf (GCC) by the Central Bank of Bahrain. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Ndnb4xhA5y\">pic.twitter.com\/Ndnb4xhA5y<\/a><\/p>\n<p>\u2014 CZ  Binance (@cz_binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1503459273413697540?ref_src=twsrc%5Etfw\">March 14, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nBinance\u2019s new license allows it to offer crypto services, including trading, custody, and portfolio management for customers in the Middle East\u2019s smallest economy. Last December, Binance received an in-principal <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval to operate in Bahrain. That approval has now become a full-fledged license.<\/p>\n<p>Central Bank of Bahrain (CBB) governor HE Rasheed Al Maraj said that the bank was \u201cdeveloping regulations aligned with global trends\u201d that \u201cenable innovation and best practices.\u201d<\/p>\n<p>The license allows Binance to continue its expansion efforts across global jurisdictions while complying with local regulations. Last week, CZ stated that he wanted Binance to \u201cidentify and invest in\u201d traditional businesses in every economic sector worldwide with the express intent of tying them into cryptocurrency. <\/p>\n<p>Despite its relative size to other countries in the region, or possibly due to that, Bahrain has been one of the most crypto-friendly countries in the Middle East. The CBB successfully trialed JP Morgan\u2019s crypto payment system Onyx in January. <\/p>\n<p>Cointelegraph reported on Jan. 10 that using crypto-based payment systems will help the CBB address what governor Al Maraj called \u201cexisting inefficiencies in the traditional cross-border payments industry.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Binance gets the green light from Canada and Bahrain<\/em><\/strong><\/p>\n<p>Landing licenses to operate in each region will certainly help Binance achieve its goals in that respect. Its most recent notable acquisition was <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> publisher Forbes last month for the princely sum of $200 million.<\/p>\n<p>The CBB\u2019s move also arguably puts the country ahead of Dubai as the region\u2019s crypto hub. Bahrain\u2019s financial crypto regulations are certainly ahead of those in Dubai, which does not yet allow crypto exchanges to offer services to its residents. <\/p>\n<p>However, CEO of Bahrain-based crypto exchange CoinMENA, Talal Tabbaa, told <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2022\/02\/22\/investing\/mideast-summary-02-22-2022-intl\/index.html\">CNN<\/a> in February that although the central bank has more advanced crypto regulations now, &#8220;If banking was sorted, then Dubai could be the number one destination for crypto.&#8221;<\/p>\n<p>The banking issue in Dubai may be sorted this year as United Arab Emirates (UAE) Prime Minister Sheikh Mohammed bin Rashid Al Maktoum created a legal framework for crypto in Dubai. Cointelegraph reported that the Prime Minister said the framework would protect investors and design \u201cmuch-warranted international standards\u201d for crypto industry governance.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"consulting_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-awarded-bahrain-crypto-service-provider-license\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Binance awarded Bahrain crypto service provider license &#8220; Crypto exchange Binance will provide fully regulated services to its first country in the Middle East thanks to a license granted by Bahrain\u2019s central bank. Bahrain was able to issue the license through the Cooperation Council for the Arab States of the Gulf (GCC). The world\u2019s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":416266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMzgzMTcxZWYtMjEyNC00ZTBlLTg3MzctMzRmNWUzNWNmZTJiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,117,25460,70934],"class_list":["post-416265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-business","tag-middle-east","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/416265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=416265"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/416265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/416266"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=416265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=416265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=416265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}