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Binance, the world’s largest crypto exchange, stated that its Bahrain unit was awarded a Category 4 license by the Central Bank of Bahrain to provide a variety of services.
Source: Binance
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Binance Bahrain had been given a preliminary license in December and a full license later on in March.
The new ranking will allow Binance Bahrain to offer a full range of crypto-asset exchange services. The exchange is the first crypto service provider to hold a full Category 4 license in the country.
In 2021, the exchange was targeted by regulators in some countries, including the UK., Japan and Israel. Since it has been working to enhance compliance from various regulators.
Binance has also been intensifying its operations in the Middle East. In March, it got a limited operating license in Dubai, and in April provisional license to operate as a broker-dealer in Abu Dhabi.
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