Binance receives a license to operate in Kazakhstan

The exchange is now a fully regulated platform with the right to provide a wide range of cryptocurrency services in the country

06.10.2022 - 07:30

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2 min

What’s new? Cryptocurrency exchange Binance has announced that it has received a license in Kazakhstan from the AIFC Financial Services Authority (AFSA). The license gives the right to operate a digital asset platform and provide custodial services at the Astana International Financial Center.

News on the Binance blog

What other options does the license provide? Once authorized, Binance becomes a regulated platform in Kazakhstan and can provide exchange and conversion services, deposit and withdrawal of fiat currencies, as well as cryptocurrency custody and asset trading services for individuals and legal entities. The exchange reported that the range of services offered will be further expanded and supplemented.

Binance is the largest centralized exchange (CEX) by trading volume, as of October 6, the figure is $15,85 billion. The platform offers 356 coins and, 1440 currency pairs.

Earlier, Binance signed a memorandum of understanding (MoU) with the Financial Monitoring Agency of the Republic of Kazakhstan. The parties expressed their common interest in the safe development of crypto markets in the country and the creation of a sustainable platform for interaction. Binance will assist the regulator in identifying and blocking cryptocurrencies obtained illegally.

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