In December, Binance Bahrain was awarded a provisional license, then in March, a full license

The new ranking "will enable Binance Bahrain to provide a comprehensive suite of crypto-asset exchange services," the corporation announced on its website Thursday.

According to the statement, the exchange is the first crypto service provider in the nation to receive a complete Category 4 licence.

Additionally, it has expanded its business throughout the Middle East. It got a restricted operating licence in Dubai in March and temporary clearance to operate as a broker dealer in the capital of the United Arab Emirates, Abu Dhabi, in April.

Last year, authorities in a number of nations, including the United Kingdom, Japan, and Israel, targeted the exchange. Since then, it has recruited former regulators to strengthen its compliance department.