This week, Binance announced that the GCC had issued a license for the organization. The Central Bank of Bahrain has issued a license and admitted that the organization is a legal supplier of virtual assets.
This permission is a big step for the company and other countries in regulating cryptocurrencies. The regulatory requirements of the license will help reduce the amount of fraud and terrorism financing. Many authorities have paid attention to the Binance and are trying to build a regulatory hurdle.
It is also increasing its presence in Dubai. It is also important to highlight that Dubai recently released its first rules aimed to regulate crypto assets.