Share this article
Binance Gains Bahrain Approval to Become Crypto Asset Service Provider, Registers in Canada
Bahrain’s “in principle” approval still requires the crypto exchange to complete the application process for a license from the central bank.
By Amitoj Singh
Updated May 11, 2023, 4:10 p.m. Published Dec 27, 2021, 9:51 a.m.
Bahrain has become the first Middle Eastern-North African country to give Binance approval in principle to establish itself as a crypto-asset service provider.
- Binance, the world’s leading cryptocurrency exchange by trading volume, still has to complete the full application process to acquire a license from the Central Bank of Bahrain. The company said in a press release it expects to complete the process in due course.
- It also registered Binance Canada Capital Markets with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the country’s anti-money laundering (AML) and anti-terrorism financing regulator, Binance CEO Changpeng “CZ” Zhao tweeted. According to the FINTRAC record, the company was incorporated Dec. 1.
Boxing day. 🇨🇦 https://t.co/XmnyQIODLT
— CZ 🔶 Binance (@cz_binance) December 27, 2021
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The developments are part of Binance’s plan to become a fully regulated centralized cryptocurrency exchange.
- During 2021, Binance drew the attention of regulators around the world for its operations, with many saying it’s not authorized to conduct business in their jurisdictions. That prompted the company to recruit staff to bolster its compliance activities and said it plans to seek official approval in some countries.
- Bahrain, for its part, is seeking to strengthen its crypto industry. In January, the country’s central bank gave the go-ahead to CoinMENA, a crypto exchange that complies with Islamic law, or shariah.
UPDATE (Dec. 26, 10:45 UTC): Adds Canada registration in headline, second bullet point.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Di più per voi
Jump Trading sued for $4 billion in connection to Do Kwon’s Terra Labs collapse: WSJ
The administrator winding down what remains of Terraform is suing Jump Trading, accusing it of contributing to its demise while profiting illegally.
Cosa sapere:
- The bankruptcy administrator of Terraform Labs is suing Jump Trading for allegedly profiting from and contributing to a $40 billion crash.
- Todd Snyder, responsible for winding down Terraform Labs, seeks $4 billion in damages from Jump Trading and its executives.
- Terraform Labs collapsed in 2022 after its stablecoin TerraUSD lost its dollar peg, leading to a market crash and the downfall of its sister token, Luna.
Top Stories
