Binance Kazakhstan has received approval for a full regulatory license from the Astana Financial Services Authority (AFSA).
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This move brings Binance closer to becoming the first Digital Asset Trading Facility (DTAF) to receive a full operating license in Kazakhstan.
In the process of obtaining regulatory approval, the blockchain company has undergone external financial audits, internal audits and regulatory inspections to ensure its compliance with regulations.
AFSA also evaluated Binance Kazakhstan to test the reliability of their systems and cybersecurity protocols. With a full license, the company will be able to trade, invest, and provide custody services for digital assets.
Vishal Sacheendran, Head of Regional Markets at Binance, commented: “We are very pleased to receive this formal pre-approval from AFSA before receiving our full regulatory license. This achievement reflects our commitment to maintaining the highest standards of compliance. “We look forward to receiving the full license to continue serving our users in Kazakhstan and contributing to the growth of the local digital asset ecosystem.”
In August 2024, Binance registered in India with the Indian Financial Intelligence Unit.