In a year that for crypto exchange Binance was difficult, the tide now seems to be turning somewhat. The trade fair has received approval from two regulators; one in Canada and the other in Bahrain.
Binance gets license in Canada
Binance is a trading exchange where users use many different cryptocurrencies such as bitcoin (BTC) and small altcoins can trade. A comparable platform in the Netherlands is Battle.
This year Binance faced some problems. Many regulators worldwide started to question the activities of the exchange. Did it have the right permits? Binance therefore stepped on the brakes, which was one of the reasons that Dutch people can no longer add money to their accounts with iDeal, for example. SEPA deposits.
Now there seems to be a positive end to this story. In Canada, Binance recently received a license. There, the company is now officially allowed to engage in “foreign exchange services, money transfers and virtual currency activities,” according to official reports. documents. A nice gift on Boxing Day:
Boxing day. ???????? https://t.co/XmnyQIODLT
– CZ ???? Binance (@cz_binance) December 27, 2021
Bahrain also gives a thumbs up, ‘the tide is turning’
Also in the Middle East Binance good news to hear. There, it has received approval from the Central Bank of Bahrain (CBB). Binance is therefore also officially allowed to work there as a “cryptocurrency service provider.” Binance CEO Changpeng Zhao Says “The Tide Is Turning” For Its exchange.
Tide is turning.
– CZ ???? Binance (@cz_binance) December 27, 2021
For the time being, not all regulators in the world are happy. That’s how it was yesterday in the crypto news read how Binance was fined from €660,000. The regulator there has indicated that Binance is guilty of violating laws that are intended to prevent money laundering.
So Binance still has a long way to go before it can provide people worldwide with a crypto trading platform without major hurdles. But it seems to be getting there with small steps.
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