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Binance secures approval for Kazakhstan operations

Business

Binance secures approval for Kazakhstan operations

By MB Business

The Astana Financial Services Authority (AFSA) has granted Binance preliminary authorization to operate a digital asset trading facility and offer custody at the Astana International Financial Center (AIFC).

The world's leading blockchain and cryptocurrency infrastructure provider will be able to operate a digital asset trading facility and custody in Kazakhstan.

Binance's CEO expressed his gratitude to AFSA for giving the trust to allow operations in Kazakhstan, stating Binance's commitment to being a compliance-first exchange and providing products and services in a safe and well-regulated environment around the world.

"Kazakhstan has shown itself to be a pioneer in Central Asian crypto adoption and regulation," said Changpeng Zhao (CZ), founder and CEO of Binance.

Gleb Kostarev, Regional Head of Asia at Binance, said “This is a landmark achievement for Binance in Kazakhstan. We are grateful to the Astana International Financial Center for their support and vision in granting Binance Kazakhstan this in-principle license approval.”

AFSA is an independent regulator of the Astana International Financial Center that oversees a wide range of digital asset-related activities in Kazakhstan.

“Large investors seeking new markets need clear-cut and well-managed rules, as well as high standards of regulatory practice. When a regulator meets these requirements, it creates collaboration based on trust and an ecosystem where players can work safely and efficiently.” said Nurkhat Kushimov, Chief Executive Officer of AFSA.

“We believe that Binance’s work will further develop this vibrant ecosystem of the digital asset industry locally and regionally,” he added.

Binance has also secured regulatory approvals and registrations in France, Italy, Spain, Bahrain, and Dubai.

Related Tags

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