Kazakhstan Financial Regulator Just Granted Approval To This Exchange

The Astana Financial Services Authority (AFSA) has given Binance, the world’s largest cryptocurrency exchange its In-principle approval to operate a digital asset trading facility and to provide custody in the Astana International Financial Centre (AIFC) Kazakhstan.

Kazakhstan to promote digital assets usage

While cryptocurrencies continue to receive mass adoption globally, some governments have refused to adopt the digital currency system due to risks among other factors. BINANCE is one of the top exchanges with approval to operate in most countries.

Its most recent feat is receiving the license to operate a Digital Asset Trading Facility and Provide Custody in the Astana International Financial Centre (AIFC) from AFSA. Notably, the AIFC is the first financial centre in the Commonwealth of Independent States (CIS) to work with Binance.

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 digital assets industry locally and regionally.

Binance also released a statement confirming the approval and mentioned that the application process is yet to be completed and it’d only begin operation once the process is completed in due course.