Binance Bahrain now has Category 4 License

Binance Bahrain has been granted a Crypto Asset Service Provider (CASP) Category 4 license by the Central Bank of Bahrain (CBB).

The Type 4 license will allow Binance Bahrain to offer a full range of crypto-asset trading services locally.

By working closely with CBB, Binance Bahrain is paving the way for a bright future for cryptocurrencies in the Kingdom of Bahrain.

Binance is proud to announce that on May 24, 2022, Binance Bahrain has been granted a Crypto Asset Service Provider (CASP) Category 4 license by the Central Bank of Bahrain (CBB). Binance Bahrain can now provide users in Bahrain with a wider range of crypto trading services, helping Binance to increase the freedom of asset circulation around the world. Of particular importance, Binance Bahrain will also be the first exchange to be granted a Category 4 license by the CBB.

By granting this license, Bahrain is becoming a leading global crypto hub in the region. Specifically, the Type 4 license will allow Binance Bahrain to offer crypto-asset trading services to clients under the supervision of Bahraini regulators.

What role does the Central Bank of Bahrain play?

The Central Bank of Bahrain is a legal entity established on September 6, 2006. The Central Bank of Bahrain succeeds the Bahrain Monetary Authority (BMA) and is responsible for managing the currency and financial stability of the Kingdom of Bahrain.

The Central Bank of Bahrain executes Bahrain’s monetary and foreign exchange policy, manages government savings and debt, and issues fiat currency like any other typical central bank.

More recently, the bureau has also provided an effective regulatory framework for local crypto financial services companies wishing to cooperate with Bahrain in the cryptocurrency space.

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