Binance receives green light to operate in the Kingdom of Bahrain

The Central Bank of Bahrain gave crypto exchange Binance the green light to operate in the country today.

The crypto-asset service provider license marks Binance's first regulatory approval in the Middle East. It's reportedly looking to increase its operations in the region, including setting up a headquarters in neighboring Dubai, according to Bloomberg. The exchange has been assisting the Dubai World Trade Centre Authority with the development of its crypto regulatory framework. 


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Bahrain's crypto-asset service provider license allows firms to provide crypto-asset trading, custodial services and portfolio management to customers under the supervision of the Bahrain regulators. Though Binance has faced regulatory scrutiny from a number of jurisdictions, including Japan, Germany and the UK, Bahrain sees its Binance approval as a step forward for its regulatory framework in fostering innovation.

“Developing regulations aligned with global trends is a key objective for us at the CBB. We continue to work with partners and industry leaders such as Binance to develop regulations that enable innovation and best practices," said HE Rasheed Al Maraj, Governor of the Central Bank of Bahrain, in a statement.

About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to or follow her on Twitter for updates @AislinnKeely.