{"id":209439,"date":"2021-12-27T15:00:17","date_gmt":"2021-12-27T15:00:17","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=209439"},"modified":"2021-12-27T14:04:54","modified_gmt":"2021-12-27T14:04:54","slug":"the-first-regulator-in-the-mena-region-greenlights-binance-as-the-crypto-exchange-registers-in-canada","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/the-first-regulator-in-the-mena-region-greenlights-binance-as-the-crypto-exchange-registers-in-canada\/","title":{"rendered":"The first regulator in the MENA region greenlights Binance, as the crypto exchange registers in Canada"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/cryptoslate.com\/companies\/binance\/\">Binance<\/a> recently <\/span><strong><a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/0ddf3dfd81e943c89054aaf439b5e049\">announced<\/a><\/strong><span style=\"font-weight: 400;\"> receiving in-principle approval to establish itself as a crypto service provider in the Kingdom of Bahrain.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The in-principle approval comes after the world's leading crypto exchange by daily trading volume applied for a license from the Central Bank of Bahrain (CBB).<\/span><\/p>\n<h2><strong>Binance's commitment to the Middle East and North Africa region<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The Central Bank of Bahrain greenlighted Binance to become a fully-regulated centralized cryptocurrency exchange.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Boom \ud83c\udde7\ud83c\udded\ud83c\udde7\ud83c\udded\ud83c\udde7\ud83c\udded<\/p>\n<p> \u00bb Binance Awarded In-Principle Approval as a Crypto-Asset Service Provider in the Kingdom of Bahrain | Binance Support <a href=\"https:\/\/t.co\/m3ts2e8Ge6\">https:\/\/t.co\/m3ts2e8Ge6<\/a><\/p>\n<p>&mdash; CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1475382871867428866?ref_src=twsrc%5Etfw\">December 27, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">However, according to the announcement, the in-principle approval from CBB still requires the crypto exchange to complete the full application process.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/cryptoslate.com\/people\/changpeng-zhao\/\">Changpeng Zhao<\/a> (CZ), founder and CEO of Binance said:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">&#8220;Recognition and approval from national regulators, such as the Central Bank of Bahrain, is essential to build trust in crypto and blockchain and help further improve mass adoption,\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">CBB\u2019s progressive move makes it the first regulator in the Middle East North Africa (MENA) region to grant in-principle approval to a Binance entity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CZ added:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">&#8220;The Central Bank of Bahrain has demonstrated leadership and forethought in addressing crypto as a future asset class. I am grateful for the support from the Central Bank of Bahrain and the broader Bahrani ecosystem during the process. The approval recognizes Binance's commitment to comply fully with regulatory requirements and our broader commitment to anchor operations and activities in Bahrain,&#8221;\u00a0<\/span><\/p><\/blockquote>\n<h2><strong>Binance obtains license in Canada, gets fined in Turkey<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Meanwhile, CZ announced Binance has successfully completed Money Services Business (MSB) registration in Canada.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Boxing day. \ud83c\udde8\ud83c\udde6 <a href=\"https:\/\/t.co\/XmnyQIODLT\">https:\/\/t.co\/XmnyQIODLT<\/a><\/p>\n<p>&mdash; CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1475321567026741248?ref_src=twsrc%5Etfw\">December 27, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The crypto exchange\u2019s domestic entity in Canada\u2013Binance Canada Capital Markets\u2013has been granted a license for foreign exchange dealing, money transferring and dealing in cryptocurrencies till the end of 2024.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Binance has been grinding hard on furthering its global footprint. At the end of last week, the crypto exchange announced signing a <a href=\"https:\/\/cryptoslate.com\/binance-agrees-to-help-dubai-develop-progressive-virtual-asset-regulations\/\">deal<\/a> with the Dubai World Trade Centre Authority.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u00bb Binance signs Dubai deal to work on international crypto framework, Garage &#8211; THE BUSINESS TIMES <a href=\"https:\/\/t.co\/CaBLMdHmQn\">https:\/\/t.co\/CaBLMdHmQn<\/a><\/p>\n<p>&mdash; CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1473915947077730305?ref_src=twsrc%5Etfw\">December 23, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The parties agreed to collaborate on developing a new international ecosystem and regulatory and legislative framework for crypto.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the crypto exchange encountered a recent setback in Turkey, suggesting that navigating through regulatory compliance is still not quite yet smooth sailing for Binance.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Turkey's Financial Crimes Investigation Board (MASAK) has recently <\/span><strong><a href=\"https:\/\/www.cnbc.com\/2021\/12\/25\/turkish-authorities-fine-local-unit-of-crypto-exchange-binance.html\">slapped<\/a><\/strong><span style=\"font-weight: 400;\"> Binance\u2019s local unit with an eight million lira ($750.000) fine over violations of the country's new regulations.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance recently announced receiving in-principle approval to establish itself as a crypto service provider in the Kingdom of Bahrain.\u00a0 The in-principle approval comes after the world&#8217;s leading crypto exchange by daily trading volume applied for a license from the Central Bank of Bahrain (CBB). Binance&#8217;s commitment to the Middle East and North Africa region The [&hellip;]<\/p>\n","protected":false},"author":699,"featured_media":209456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The first regulator in the MENA region greenlights Binance, as the crypto exchange registers in Canada<\/title>\n<meta name=\"description\" content=\"Binance recently announced receiving in-principle approval to establish itself as a crypto service provider in the Kingdom of Bahrain.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/the-first-regulator-in-the-mena-region-greenlights-binance-as-the-crypto-exchange-registers-in-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The first regulator in the MENA region greenlights Binance, as the crypto exchange registers in Canada\" \/>\n<meta property=\"og:description\" content=\"Binance recently announced receiving in-principle approval to establish itself as a crypto service provider in the Kingdom of Bahrain.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/the-first-regulator-in-the-mena-region-greenlights-binance-as-the-crypto-exchange-registers-in-canada\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-27T15:00:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-27T14:04:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/12\/binance-bahrain.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ana Grabundzija\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ana Grabundzija\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/the-first-regulator-in-the-mena-region-greenlights-binance-as-the-crypto-exchange-registers-in-canada\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/the-first-regulator-in-the-mena-region-greenlights-binance-as-the-crypto-exchange-registers-in-canada\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#person\",\"name\":\"Ana Grabundzija\",\"url\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"caption\":\"Ana Grabundzija\"},\"jobTitle\":\"Journalist\",\"description\":\"Dr. Ana Grabundzija is a Zagreb-bred writer with an academic background in anthropology. 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