Binance Secures Category 4 License as Crypto-Asset Service Provider in Bahrain

Cryptocurrency exchange Binance announced that Binance Bahrain received a Category 4 license as a crypto-asset service provider (CASP) from the Central Bank of Bahrain (CBB) On May 24, 2022.

Binance Bahrain can now offer a wider range of crypto exchange services to users in Bahrain, helping Binance increase the freedom of money globally. Binance Bahrain will be the first exchange to be granted a category 4 license by the CBB.

"The upgrade to a Category 4 license in the Kingdom of Bahrain is a landmark achievement for Binance and further signifies our commitment to being a compliance-first exchange,"said Richard Teng, Head of MENA at Binance.

By granting the license, Bahrain is well on its way to becoming a leading global hub for crypto in the area. Specifically, the Category 4 license will allow Binance Bahrain to offer crypto-asset exchange services to customers under the supervision of the Bahrain regulators.