Binance Launches Local Digital Asset Platform in Kazakhstan
Photo: Ruslan Pryanikov
“The platform will be operated on the basis of a license from the AIFC Financial Services Authority (AFSA) to manage the digital asset platform and provide custodial services at the Astana International Financial Center. Also, a permanent license gives Binance in Kazakhstan the status of a regulated platform,” the company noted.
At the time of launch, users can buy and sell cryptocurrencies using a fiat balance, spot trading and conversion. In accordance with the regulatory requirements in force in the territory of Kazakhstan, some products and services may not be available or available to users to a limited extent. The range of services and services of the exchange will be constantly expanding, the report says.
“By the end of the year, we plan to expand the product line for users of the local cryptocurrency exchange in Kazakhstan, as well as bring the number of available digital assets to at least 100,” said Binance Kazakhstan General Manager Zhaslan Madiev.
“Over the past year, the regulators of Kazakhstan have taken significant steps towards the development of the cryptocurrency industry. To ensure the regulatory legal framework for the organization of trading in digital assets, a project is being implemented on the interaction of the AIFC, cryptocurrency exchanges and second-tier banks, in which the National Bank of Kazakhstan, the Financial Monitoring Agency of the Republic of Kazakhstan, as well as the Agency for Regulation and Development of the Financial Market take part. This project showed excellent results,” said Asset Turysov, Vice Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan.
The www.binance.com platform will continue to be available to users from Kazakhstan. To use the local platform, you must register using a different email. Users who are not citizens of Kazakhstan can also use the platform. To use fiat channels, you must have a MasterCard bank card issued by a Kazakh bank and an assigned individual identification number (IIN).
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