• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Binance
Nexo

Bahrain Is All Set To Adopt Crypto In A “Big” Way; Grants License To Binance

anushsamal by anushsamal
3 weeks ago
in Crypto News
0

Bahrain’s Prince Salman bin Hamad Al Khalifa met with Binance CEO ChangPeng Zhao to discuss crypto adoption further.

The world’s largest cryptocurrency exchange, Binance has now been granted the license required to operate within Bahrain by the Central Bank of the country. Binance shall now be eligible to provide services such as crypto trading, portfolio management, and custody to the people of Bahrain.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The crypto exchange platform had been working to establish its foothold in the UAE region for some time now. With the new license being issued from the Gulf Cooperation Council (GCC), Binance marks its first-ever license from the GCC.

ChangPeng Zhao announced this news on Twitter, where he shared a picture of him meeting with Prime Minister Salman bin Hamad Al Khalifa.

“The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world,” quoted Zhao.

This partnership with Bahrain is a milestone in terms of their goal of “being fully licensed and regulated around the world.” being actualized.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Binance Talks Of Bahrain’s Growth and Economic Development Through Crypto Adoption

Zhao highlighted that the Kingdom of Bahrain could have the potential for considerable economic development and growth.

The President of Bahrain also included that the nation’s impeccable business environment and relations would overall cause a competitive edge and growth.

Despite many nations such as U.K and Italy that have banned Binance along with nations like Japan and Hong Kong issuing warnings to the exchange, Bahrain seems to be confident about their decision.

The crypto space in the UAE continues to remain in a nascent stage, however, with Binance starting its operations in Dubai, this is surely a robust start.

Team Bahrain has built a world-class infrastructure to support the fast-growing blockchain and crypto industry, with robust regulations. … Collaboration with industry leaders such as Binance will further enhance our mission to establish the Kingdom of Bahrain as a leading business hub, said Khalid Humaidan, CEO of the Bahrain Economic Development Board.

Related Reading | Binance Deactivates Accounts Of Its Major Clients In Russia As Part Of EU Sanctions

Although Nascent, UAE Seems To Be Crypto-Friendly

Recently, Binance received its license to operate in Dubai. There had been licensing regulations which included the United Arab Emirates stating clear guidelines to regulate crypto and other digital asset industries which are emerging, in order to safeguard investors.

Even with the same, Dubai has projected itself as a friendlier nation in terms of adopting Web3.

Dubai’s crypto regulations are a lot more pro-crypto and less stifling, this has caused many Indian Web3 and Defi projects to move to Dubai.

With The Reserve Bank of India constantly raising concerns about the technology and passing stringent tax regimes, a lot of budding Defi projects had to move their base to Dubai.

It is also apparently reported that Web3 events held in Dubai were mostly attended by Indians, Russians, and Europeans with the major population being Indians.

A day ago, it was reported that the founders of WazirX, a prominent crypto exchange platform, Nischal Shetty and Siddharth Menon, moved out of India to Dubai. This gives rise to the notion that the UAE could really become the global DeFi hub.

Suggested Reading | EU And Sweden Discussed Banning Bitcoin Proof Of Work: FOI Documents

Binance
BTC is trading below the $40,000 mark on the four-hour chart. Image Source: BTC/USD on TradingView
Featured image from TechCrunch, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
anushsamal

anushsamal

Related Posts

Goldman

Goldman Sachs And Barclays’ Investment In Elwood Tech A Major Triumph For Crypto Adoption

8 hours ago
crypto

Crypto Regulators From 5 Countries Identify A Potential $1 Billion Ponzi Scheme

1 day ago
Kraken

Kraken CEO Shuts Down San Francisco Headquarters – Here’s Why

1 day ago
Stablecoins

Stablecoins Receive Queen’s Blessings As UK Braces For Landmark Crypto Legislation

1 day ago
LUNA

LUNA Investors ‘Suicidal’ After Crypto’s Collapse – Do Kwon Says He’s ‘Heartbroken’

2 days ago
Coinbase

Coinbase Witnesses Major Outage Amidst Continued Crypto Bloodbath

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.