Bybit Secures Full Authorization in Kazakhstan
Bybit, a major cryptocurrency exchange, has been granted full authorization by the Astana Financial Service Authority (AFSA) in Kazakhstan. This makes Bybit one of the first exchanges to receive such approval.
What does this mean for Bybit?
The full authorization will allow Bybit to operate as a fully regulated Digital Asset Trading Facility (DATF) in Kazakhstan. This means that Bybit will be able to offer a wider range of products and services, including:
- Digital asset trading
- Custody services
- Other related services
Bybit has already received initial operating and custody licenses from AFSA in June 2023. This latest development is a further commitment to the company’s goals of operating in a compliant and secure trading environment.
Why is Kazakhstan important?
Kazakhstan has quickly become a key player in the global crypto ecosystem. The country has attracted significant investments from crypto companies and has a growing number of crypto users.
Bybit’s expansion into Kazakhstan is part of its broader strategy to grow its global reach and provide its services to a wider audience.
What’s next for Bybit?
Bybit is committed to fostering the development of the crypto ecosystem in Kazakhstan. The company recently hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan. This is part of Bybit’s goal to make blockchain education more accessible in the CIS region.
Bybit’s full authorization in Kazakhstan is a significant step forward for the company. It signals a commitment to regulatory compliance and a desire to provide a secure and reliable trading experience for users.
