{"id":158367,"date":"2022-05-27T11:02:53","date_gmt":"2022-05-27T11:02:53","guid":{"rendered":"https:\/\/precoinnews.com\/?p=158367"},"modified":"2022-05-27T11:02:53","modified_gmt":"2022-05-27T11:02:53","slug":"binance-becomes-first-crypto-exchange-to-receive-a-category-4-license-in-bahrain","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/binance-becomes-first-crypto-exchange-to-receive-a-category-4-license-in-bahrain\/","title":{"rendered":"Binance Becomes First Crypto Exchange To Receive a Category 4 License in Bahrain"},"content":{"rendered":"<p>On Thursday (May 26), the world\u2019s largest crypto exchange by trading volume announced that Binance Bahrain had \u201creceived a Category 4 license as a crypto-asset service provider (CASP) from the Central Bank of\u00a0Bahrain\u00a0(CBB), allowing it to offer a full-suite of crypto exchange services in\u00a0Bahrain.\u201d<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2022\/05\/Screenshot-2022-05-27-at-10.57.11.png\"><\/p>\n<p>According to Binance Bahrain\u2019s press release, Richard Teng, Head of MENA at Binance, stated:<\/p>\n<p>\u201c<em>The upgrade to a Category 4 license in the Kingdom of\u00a0Bahrain\u00a0is a landmark achievement for Binance and further signifies our commitment to being a compliance-first exchange. This will allow us to provide the full suite of products and services that users have come to expect from an exchange, in a safe and well regulated environment.<\/em><\/p>\n<p>\u201c<em>We are grateful to the Central Bank of\u00a0Bahrain\u00a0for their support and vision in granting Binance Bahrain this license.\u00a0Bahrain\u00a0is well on the path to becoming a leading global hub for crypto.<\/em>\u201c<\/p>\n<p>Regarding CBB, the press release had this to say:<\/p>\n<p>\u201c<em>The Central Bank of\u00a0Bahrain\u00a0(CBB) is a public corporate entity established by the 2006 CBB and Financial Institutions Law. It was created on\u00a06th September 2006. The CBB is responsible for maintaining monetary and financial stability in the Kingdom of\u00a0Bahrain. It succeeded the Bahrain Monetary Agency, which had previously carried out central banking and regulatory functions since its establishment in 1973.<\/em>\u201d\u00a0<\/p>\n<p>And Binance\u2019s blog post said that more recently, the CBB \u201calso provided an efficient regulatory framework for crypto financial services firms in Bahrain looking to work with crypto.\u201d<\/p>\n<h2>Newsletter<\/h2>\n<p><em>To make sure you receive a\u00a0FREE weekly newsletter\u00a0that features highlights from our most popular stories,\u00a0click here.<\/em><\/p>\n<h2>Disclaimer<\/h2>\n<p><em>The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n<h2>Image Credit<\/h2>\n<p><em>Featured Image\u00a0by \u201conasama\u201d via\u00a0Pixabay.com<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2022\/05\/binance-becomes-first-crypto-exchange-to-receive-a-category-4-license-in-bahrain\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Thursday (May 26), the world\u2019s largest<\/p>\n","protected":false},"author":3,"featured_media":158366,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance Becomes First Crypto Exchange To Receive a Category 4 License in Bahrain - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/altcoins\/binance-becomes-first-crypto-exchange-to-receive-a-category-4-license-in-bahrain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Becomes First Crypto Exchange To Receive a Category 4 License in Bahrain - 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