{"id":55260,"date":"2021-12-27T12:07:04","date_gmt":"2021-12-27T10:07:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=55260"},"modified":"2025-09-04T00:29:24","modified_gmt":"2025-09-03T21:29:24","slug":"binance-wins-in-principle-approval-to-operate-as-a-crypto-services-provider-in-bahrain","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-wins-in-principle-approval-to-operate-as-a-crypto-services-provider-in-bahrain\/","title":{"rendered":"Binance wins in-principle approval to operate as a crypto-services provider in Bahrain"},"content":{"rendered":"<p>The cryptocurrency exchange Binance has obtained in-principle approval from the Central Bank of Bahrain to operate as a crypto-services provider.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> has received in-principle approval as a crypto-asset service provider in the Kingdom of Bahrain.<a href=\"https:\/\/t.co\/9GvuYVOYvt\">https:\/\/t.co\/9GvuYVOYvt<\/a><\/p>\n<p>\u2014 Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1475376030974103552?ref_src=twsrc%5Etfw\">December 27, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to a statement, the company filed its application as part of plans to become a &#8216;fully regulated centralized cryptocurrency exchange&#8217;.<\/p>\n<p>Binance also registered in Canada the entity Binance Canada Capital Markets as a money-services provider.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Boxing day. \ud83c\udde8\ud83c\udde6 <a href=\"https:\/\/t.co\/XmnyQIODLT\">https:\/\/t.co\/XmnyQIODLT<\/a><\/p>\n<p>\u2014 CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1475321567026741248?ref_src=twsrc%5Etfw\">December 27, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Against this backdrop, Binance CEO Changpeng Zhao published an article titled &#8216;Why Binance Embraces Regulation&#8217;.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\u00bb CZ FAQ 5 \u2014 Why Binance Embraces Regulations | <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> Blog <a href=\"https:\/\/t.co\/7Jc5CU8B2b\">https:\/\/t.co\/7Jc5CU8B2b<\/a><\/p>\n<p>\u2014 CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1475323377493630981?ref_src=twsrc%5Etfw\">December 27, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&quot;Having effective regulatory acts that protect consumers while simultaneously encouraging innovation is essential for the growth of the industry,&quot; he wrote.<\/p>\n<\/blockquote>\n<p>In Zhao&#8217;s view, industry players must engage with banks to accelerate broad crypto adoption.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&quot;Today, 99.9% of money remains in fiat. And 5% of people who own cryptocurrency typically hold only a small portion of their wealth in it. To grow the crypto industry, we need fiat money both at gateways and beyond them. We need to build bridges. For this, licences are required,&quot; said the head of Binance.<\/p>\n<\/blockquote>\n<p>In November the exchange <a href=\"https:\/\/forklog.com\/en\/news\/binance-calls-for-global-regulation-of-the-crypto-industry-and-stronger-user-protections\">published<\/a> the document &#8217;10 Fundamental Rights of Crypto Users&#8217; as a basis for shaping cryptocurrency regulation.<\/p>\n<p>In December Binance <a href=\"https:\/\/forklog.com\/en\/news\/binance-signs-agreement-with-dubai-authorities-to-promote-cryptocurrencies\">signed a memorandum of understanding<\/a> with the Dubai World Trade Centre Authority to create an industry hub in the emirate.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance has received in-principle approval from the Central Bank of Bahrain to operate as a cryptocurrency-services provider.<\/p>\n","protected":false},"author":1,"featured_media":55261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1552,744,771],"class_list":["post-55260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bahrain","tag-binance","tag-canada"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=55260"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55260\/revisions"}],"predecessor-version":[{"id":55262,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55260\/revisions\/55262"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/55261"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=55260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=55260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=55260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}