Binance Crypto Services In Bahrain Expanded Under New License | CryptoSoul

Binance Crypto Services In Bahrain Expanded Under New License

On Thursday, Binance announced that it had received a Category 4 License as a crypto assets service provider (CASP) from the Central bank of Bahrain.

“Binance is extremely proud to announce that Binance Bahrain received a category 4 license as a Crypto Asset Provider (CASP) from the Central Bank of Bahrain (CBB) on May 24, 2022.” Read the announcement.

A category-4 license seeks to cater to the business models of specialist fund managers who operate or manage market collective investment undertakings (CIUs). Introduced in September 2021, the license brings crypto exchanges under the purview of Bahrain’s regulations and creates a conducive environment for the Middle East country to progressively adopt digital asset regulations without stifling innovation.