Binance has been approved by the Kingdom of Bahrain as a cryptocurrency provider in Bahrain.

The Kingdom of Bahrain became the first country in the Middle East and North Africa to approve Binance in principle as a national heritage resource.

As the global cryptocurrency market evolves in terms of the packaging industry, Binance has yet to complete the entire license application process with the Central Bank of Bahrain. The company said in a press release that it hopes to complete this process on time.

Binance CEO Changpeng Zhao C CZ “tweeted that the company is also listed with Binance Canada Capital Markets (Binance Canada Capital Markets), Canadian Center for Financial Trading, Information and Research (FINTRAC). Counterterrorism Funding Regulatory Authority. According to FINTRAC data, the company was incorporated on December 1.

These improvements are part of Binance's plan to become a regulatory medium for crypto exchanges.

By 2021, Binance's activities have drawn regulators around the world, with many countries accusing the exchange of not allowing them to trade their rights. As a result, the company said it is looking for staff to improve its compliance and plans to seek approval in some countries.

As for the Kingdom of Bahrain, it is working to further strengthen the cryptocurrency industry. In January of this year, the Securities and Exchange Commission approved CoinMENA, a sharia-compliant cryptocurrency exchange.