Binance has received in-principle approval from the Central Bank of Bahrain (CBB) to establish itself as a crypto-asset service provider in the Kingdom of Bahrain. The in-principle approval comes after Binance applied for a license from the CBB as part of its plans to become a fully-regulated centralised cryptocurrency exchange.
The move from CBB makes it the first regulator in the Middle East North Africa (MENA) region to grant an in-principle approval to a Binance entity. The in-principle approval from CBB still requires Binance to complete the full application process, which is expected to be completed in due course.
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