Kazakhstan Grants Binance Permanent License to Offer Digital Asset Services
The AIFC Financial Services Authority in Kazakhstan has granted Binance a permanent license for a digital asset platform and provides custody services in the country.
New
After an accumulation of several memorandums of understanding (MoUs) and an initial "in-principle" approval to operate in Kazakhstan, Binance has received a permanent license to operate in the country.
On October 6, the AIFC Financial Services Authority (AFSA) of the Republic of Kazakhstan granted the permanent license to operate a digital asset platform and provide custody services at the international financial center in Astana.
This newly acquired permanent license gives Binance official status as a regulated platform in the country. Gleb Kostarev, Regional Manager for Asia at Binance, said this is another step for Binance to be a "compliance-driven exchange".
Kostarev highlighted Kazakhstan's recent efforts and activities in the field of cryptography:
"We welcome Kazakhstan's desire to become a leading player in the field of new digital technologies and the cryptocurrency ecosystem."
Binance began laying the groundwork for its operations in Kazakhstan earlier this year when it signed its first MoU on May 25, committing to help adopt and crypto regulation in the country. Followed by a second on October 3 to help fight financial crime.
Related: Kazakhstan Central Bank 'Not Going to Ignore' Crypto Market
This development out of Kazakhstan follows multiple actions by authorities to increase crypto-related opportunities in the country.
On September 28, Kazakhstan's President Kassym-Jomart Tokayev told a local news agency that if demand increases, the government is ready to allow a way to convert encryption...
The AIFC Financial Services Authority in Kazakhstan has granted Binance a permanent license for a digital asset platform and provides custody services in the country.
New
After an accumulation of several memorandums of understanding (MoUs) and an initial "in-principle" approval to operate in Kazakhstan, Binance has received a permanent license to operate in the country.
On October 6, the AIFC Financial Services Authority (AFSA) of the Republic of Kazakhstan granted the permanent license to operate a digital asset platform and provide custody services at the international financial center in Astana.
This newly acquired permanent license gives Binance official status as a regulated platform in the country. Gleb Kostarev, Regional Manager for Asia at Binance, said this is another step for Binance to be a "compliance-driven exchange".
Kostarev highlighted Kazakhstan's recent efforts and activities in the field of cryptography:
"We welcome Kazakhstan's desire to become a leading player in the field of new digital technologies and the cryptocurrency ecosystem."
Binance began laying the groundwork for its operations in Kazakhstan earlier this year when it signed its first MoU on May 25, committing to help adopt and crypto regulation in the country. Followed by a second on October 3 to help fight financial crime.
Related: Kazakhstan Central Bank 'Not Going to Ignore' Crypto Market
This development out of Kazakhstan follows multiple actions by authorities to increase crypto-related opportunities in the country.
On September 28, Kazakhstan's President Kassym-Jomart Tokayev told a local news agency that if demand increases, the government is ready to allow a way to convert encryption...
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