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Binance's Bahrain License Upgraded for More Crypto Services
Binance Bahrain was granted a preliminary license in December and full license in March.
Binance, the world's largest crypto exchange, said its Bahrain unit was granted a Category 4 license by the Central Bank of Bahrain, allowing it to offer a wider range of services to users in the Middle Eastern country.
- Binance Bahrain was granted a preliminary license in December and full license in March.
- The new ranking "will allow Binance Bahrain to provide a full range of crypto-asset exchange services," the company said on its website on Thursday.
- The exchange is the first crypto service provider to hold a full Category 4 license in the country, it said.
- Last year, the exchange was targeted by regulators in a number of countries, including the U.K., Japan and Israel. Since then, it has been recruiting from the ranks of former regulators to beef up its compliance side.
- It has also been stepping up its operations in the Middle East. In March, it received a limited operating license in Dubai, and in April provisional approval to operate as a broker dealer in Abu Dhabi, the capital of the United Arab Emirates.
Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
