Crypto exchange Binance gets in-principle nod from Bahrain

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Published: Dec 27, 2021, 09:23 GMT+00:00

DUBAI (Reuters) - Binance has received in-principle approval from the Central Bank of Bahrain (CBB) to become a crypto-asset service provider in the kingdom, the company said on Monday.

Illustration shows representation of Binance cryptocurrency exchange token

DUBAI (Reuters) – Binance has received in-principle approval from the Central Bank of Bahrain (CBB) to become a crypto-asset service provider in the kingdom, the company said on Monday.

Binance, the world’s biggest cryptocurrency exchange by trading volume, said the in-principle approval came after the company applied for a licence from the CBB as part of its plans to become a fully regulated centralised cryptocurrency exchange.

Binance still had to complete the full application process, the company said in a statement, which it said it expected to happen in due course.

(Reporting by Hadeel Al Sayegh; Editing by Nick Macfie)

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