Connect with us

Hi, what are you looking for?

Cryptocurrency

Cryptocurrency giant Binance gets licence in Bahrain

Nigeria ousts kenya atop Africa’s crypto adoption rank

Cryptocurrency exchange platform Binance, one of the world’s largest, said Tuesday it had been granted an operating licence in Bahrain, its first in the Gulf.

The company, which was founded in China but has since been banned there, said it would provide crypto asset trading and portfolio management services under the supervision of the Central Bank of Bahrain.

Binance founder and CEO Changpeng Zhao praised the “stringent criteria of the Central Bank of Bahrain” in terms of anti-money laundering, at a time when most regulators around the world are wary of cryptocurrencies.

Bahrain hopes to become a regional hub for crypto asset companies, as does Dubai.

The Emirate this month also announced the adoption of a virtual assets law and the creation of a crypto asset regulatory authority.

Another major cryptocurrency exchange platform, FTX, also announced on Tuesday the launch of its operations and the opening of a regional headquarters in Dubai.

AFP

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

News

The sole producers of iOS devices, Apple Inc., disclosed that it will begin manufacturing its recently launched iPhone 14 in India. According to Bloomberg,...

News

Less than a month into the production of the iPhone 14, Apple Inc. is set to change its “Pro Max” naming scheme to Ultra...

News

Billions of Facebook users are susceptible to hacking and this is not limited to accounts with millions of followers, as is the case of...

News

Hackers who crippled a French hospital and stole a trove of data last month have released personal records of patients online, officials have confirmed....

Advertisement