The permit will allow the crypto exchange to provide services in the country for trading, storage and asset management in cryptocurrencies under the control of the regulatory financial authorities of the kingdom.

The Central Bank of Bahrain has issued a license to the Binance crypto exchange, the Bahrain News Agency reported. Now the company will be able to provide clients with services for trading, storage and asset management in cryptocurrency under the supervision of the regulatory financial authorities of the Kingdom.

Bahrain became the first Arab state in the Persian Gulf to issue a license to Binance. The site is also negotiating to obtain a permit to work in Dubai.

Earlier, Binance CEO Changpeng Zhao said that US and EU sanctions against Russia would not harm the crypto industry. According to Zhao, if access to large international crypto exchanges is blocked, Russians will be able to use small trading platforms located in Russia.

The head of Binance added that the crypto exchange strictly follows international law and implements sanctions. The trading platform does not consider it right to restrict access to its infrastructure to all Russian users, however, it will do so if such a requirement comes from regulatory authorities.

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