Binance received in-principle approval by the Central Bank of Bahrain to become a cryptocurrency-asset service provider within the Kingdom, the company announced Monday.
Binance, the largest cryptocurrency exchange in the world by trading volume, announced that the in-principle approval was granted after it applied for a license from the CBB to allow it to operate a centrally regulated cryptocurrency exchange.
Binance had to still complete the entire application process, according to the company in a statement. It said that it was confident this would happen soon.
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