The permission will allow the crypto exchange to provide trading, storage and asset management services in the countryin cryptocurrencies under the control of the regulatory financial authorities of the kingdom.
The Central Bank of Bahrain issued a crypto exchange Binancelicense to operate, the Bahrain News Agency reported. Now the company will be able to provide clients with services for trading, storing and managing assets in cryptocurrency under the control of the regulatory financial authorities of the kingdom.
Bahrain became the first Arab state in the Persian Gulf to license Binance. The site is also negotiating to obtain a work permit in Dubai.
Earlier, Binance CEO Changpeng Zhao stated thatUS and EU sanctions against Russia will not harm the crypto industry. According to Zhao, if access to large international crypto exchanges is blocked, Russians will be able to use small trading platforms located in Russia.
The head of Binance added that the crypto exchange is strictlyfollows international law and implements sanctions. The trading platform does not consider it right to restrict access to its infrastructure to all Russian users, however, it will do so if such a requirement comes from regulatory authorities.
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