Binance Bags Full Digital Asset License in Kazakhstan

Binance has continued its expansionary drive as its subsidiary in Kazakhstan has secured full approval to operate in the region

Binance’s subsidiary in Kazakhstan has hit a major milestone in the crypto industry. The exchange has officially announced it has secured a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority (AFSA). This achievement marks a new chapter in Kazakhstan’s journey toward becoming a key player in the global digital asset space. 

The Road to Binance Licensing In Kazakhstan

Binance noted that securing the DATF license was no small feat. The exchange’s subsidiary in Kazakhstan underwent a rigorous, multi-stage review. This stringent process was to meet AFSA’s strict regulatory standards. This process included comprehensive external financial audits and obtaining ISO certifications. This was to ensure the platform’s systems were not only compliant but also robust and trustworthy.

The review included adherence to the Astana International Financial Centre’s (AIFC) digital asset activities framework, a review of the Conduct of Business Rules, and strict Anti-Money Laundering (AML) regulations.

With this license, Binance Kazakhstan is now authorized to operate as a trading facility for digital assets, act as a broker-dealer, and offer custody services. Interestingly, crypto users in the region can trade the Worldcoin (WLD), for which the exchange plans to launch futures soon.

A Catalyst for Crypto Growth in Central Asia

This milestone also further opens the door for Kazakhstan to establish itself as a crypto-friendly jurisdiction. With Binance leading the charge, the country could become a major hub for blockchain innovation and digital finance in Central Asia. 

The successful integration of digital assets into Kazakhstan’s financial ecosystem could lead to a ripple effect across neighboring countries, promoting a wave of digital transformation throughout the region. 

For Kazakhstan, this moment could be the beginning of a digital revolution, one where crypto is not just a speculative investment but a cornerstone of the nation’s financial future.

Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGECrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making decision.