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Binance is on track for its 1st Gulf-region expansion after getting regulatory approval in Bahrain
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REUTERS/Darrin Zammit Lupi
Binance Holdings has received tentative regulatory approval from Bahrain to become a crypto asset service provider, putting the world's largest crypto exchange by volume on track for its first expansion in the Gulf region.
The in-principle approval still requires Binance to complete the full application process, the company said in a statement Monday. The green light came after Binance applied for a license as part of its plans to become a fully-regulated exchange in the kingdom.
«The approval recognizes Binance's commitment to comply fully with regulatory requirements and our broader commitment to anchor operations and activities in Bahrain,» CEO and founder Changpeng Zhao said.
If finalized, Bahrain's central bank
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