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
671
2 min
0
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.
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.
Useful material?
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024
Market
The $1,1 billion figure was reached after the bitcoin correction
Dec 6, 2024
Crypto regulations
By early January, all open positions and loans of local users will be closed and repaid automatically
Dec 5, 2024