Binance wins regulatory approval in Italy and a grade 4 license in Bahrain within a week
The Digital assets giant, Binance, is rapidly moving to operate in compliance with local regulations regarding cryptocurrencies. After receiving the first license in MENA in Bahrain in December 2021, it was announced that Binance Bahrain has received a Category 4 license as a crypto-asset service provider (CASP) from the Central Bank of Bahrain (CBB).
The Category 4 license will allow Binance Bahrain to provide a full range of crypto-asset exchange services. Good to mention that Binance Bahrain will be the first exchange to be granted a category 4 license by the CBB.
After Bahrain, Binance received two licenses in both DWTC and ADGM in the UAE, follow by a license in France.
Furthermore, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, announces that Binance Italy has received regulatory approval in Italy through registration as a Cryptocurrency Service Provider with the ‘Organismo Agenti e Mediatori’ (OAM), as required by the Italian legislation on crypto asset.
The registration of Binance Italy, legal entity of the Group in the country established in recent months, allows the company to offer crypto products to its customers in Italy and it is a concrete testimony of the importance for Binance to operate in compliance with local regulations regarding cryptocurrencies.
Changpeng Zhao “CZ”, co-founder and CEO of Binance commented: “Clear and effective regulation is essential for mainstream adoption of cryptocurrencies. We thank the Ministry of Economy and Finance and the OAM for their efforts in defining and controlling the necessary requirements to operate in Italy in full transparency. Binance has always put its users first and, with actions such as the implementation of the register, they can be confident that our platform is among the safest and most trustworthy in the world.”