- Binance’s Bahrain subsidiary BPay Global has received approval from the Central Bank in Bahrain.
- The leading exchange has fought several regulatory obstacles over the past year.
When Trump put a break on the customs negotiations, the crypto market gathered upwards. Bitcoin has recycled its mark of $ 80K and currently trades within the $ 82K range. The Altcoin sector has also shown positive movements over the past 24 hours. At the same time, after completing its final vote, SEC announced Paul Atkins as his new chairman.
On the other hand, leading Crypto Exchange Binance has seen positive progress in Bahrain. According to the latest reports, Exchange’s subsidiary Bpay Global approved from Bahrain Central Bank (CBB).
The report abandoned that the bank has granted BPay Global A Payment Service Provider (PSP) license. This allows the Binance Daughter Company to work in the Kingdom of Bahrain and provide Fiat services for Binance users globally.
Mr Abdulla Haji, Head of the License Directorate at CBB, pronounced:
“CBB remains committed to enabling a dynamic and progressive payment landscape that is consistent with global progress in financial technology.”
In addition, director Bahrain commented on digital assets. He said this was a positive step in improving the kingdom’s digital payment ecosystem, especially its support for the crypto-related sector.
What is Binance’s current regulatory position?
Over the past year, Binance has seen positive progress after a period of huge regulatory hiccups. The company recently regained its operating license in India after its long -term ban. This happened in August 2024 After the exchange agreed to new compliance measures.
With such major challenges with crypto regulations and CZ’s latest edition, Binance is now moving forward. Its current CEO, Richard Teng, discussed how they prioritize compliance as primarily in a new interview.
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