The world’s biggest crypto exchange by trading volume, Binance has gotten the approval of authorities in Bahrain to operate as a crypto-asset service provider. This is in line with Binance’s motive of pursuing absolute decentralization.
However, the exchange firm would still need to complete the full application process before receiving the required license from the Central Bank of Bahrain.
Binance is also looking to extend its tentacles to North American country Canada. According to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the exchange was incorporated on Dec. 1.
Binance came in for a lot of criticism for non-compliance issues from regulators across different countries, this has forced the hand of Binance CEO Changpeng Zhao and his team to pay more attention to optimizing its existing regulations and also experts in the space to bolster its interaction with regulatory bodies.