Crypto exchange Binance has just announced Bahrain's central bank has granted it a crypto asset service provider license, Reuters has reported.
According to the joint statement from Changpeng Zhao, Binance's CEO, with Bahraini authorities:
"The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world."
He has added the regulatory requirements "will protect users with strong anti-money laundering and counter-terrorism financing policies."
Binance has been going through some tough times recently as regulators around the world have turned their attention to the platform. While some have banned Binance from certain activities, others have warned consumers it lacks the necessary license to offer its services in their jurisdictions.
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According to the announcement, the license permits crypto asset trading, custodial services and portfolio management.
Binance has also obtained a license in Dubai.