Binance Kazakhstan Receives Full Regulatory License
Binance Kazakhstan, a subsidiary of the global Binance blockchain ecosystem, has secured a full regulatory license from the Astana Financial Services Authority (AFSA). This development marks a significant step forward for Binance Kazakhstan, putting it on track to become the first fully regulated Digital Asset Trading Facility (DATF) operator in Kazakhstan.
The approval underscores Binance Kazakhstan’s commitment to adhering to local regulations and maintaining high standards in operational security and compliance. The entity underwent a comprehensive evaluation process, including an External Financial Audit, ISO certifications following an audit of its information systems, and several internal audits and external regulatory reviews.
The license grants Binance Kazakhstan the authority to operate a virtual assets trading platform, engage in investment activities as a principal, and offer custody services for virtual assets under full regulatory oversight. Binance Kazakhstan successfully tested its offerings, passing a rigorous assessment by the regulator based on the AIFC Digital Asset Activities, Conduct of Business Rules, Anti-Money Laundering (AML) laws, and other applicable regulations.
Vishal Sacheendran, who leads regional markets at Binance, stated that this achievement demonstrates the company’s dedication to adhering to rules, maintaining security, and conducting business responsibly. He expressed excitement about obtaining a full license to operate in Kazakhstan, enabling Binance to continue serving its users and supporting the growth of the digital asset industry in the country.
The Astana Financial Services Authority (AFSA) is an independent regulator within the Astana International Financial Centre (AIFC), established in 2018 to oversee financial and non-financial activities, including capital markets and ancillary services, within the AIFC jurisdiction.
Binance has secured legal approval to operate in several countries, offering cryptocurrency services. In France, the company is registered to provide digital asset services. In Italy, Spain, Lithuania, and Abu Dhabi, along with Mexico and El Salvador, Binance offers crypto exchange and storage services.
Two years ago, Binance partnered with Air Astana, the largest airline in Kazakhstan. Last year, Binance launched a regulated digital asset platform.
This latest development signals a growing trend of regulatory acceptance for cryptocurrency platforms and the broader digital asset industry. Binance Kazakhstan’s achievement provides further evidence of the industry’s commitment to operating within a robust regulatory framework.
