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Binance Gets Its First Gulf Crypto Regulatory Nod in Bahrain

  • Largest crypto exchange gets in-principle approval in Bahrain
  • CEO Zhao expects to complete process formalities in due course
Changpeng Zhao
Changpeng ZhaoPhotographer: Wei Leng Tay/Bloomberg

Binance Holdings Ltd. received in-principle approval from Bahrain’s central bank to be a crypto-asset service provider in the kingdom, according to a statement from the company. 

Binance, the world’s largest cryptocurrency exchange by trading volume, still needs to complete a full application process, Chief Executive Officer Changpeng “CZ” Zhao wrote in an email to Bloomberg News. He said that would be completed “in due course.”