Binance Poised to Become Kazakhstan’s First Fully Regulated Crypto Exchange

Binance is on track to become Kazakhstan’s first fully regulated cryptocurrency exchange.

As of September 6, Binance Kazakhstan has secured “formal consent” from the Astana Financial Services Authority (AFSA) for a complete regulatory license, moving closer to full compliance.

The local branch of Binance has met all licensing requirements, including passing thorough financial audits, acquiring ISO certifications for its IT infrastructure, and undergoing various regulatory inspections.

This license will enable Binance Kazakhstan to operate a virtual assets trading platform, manage investments, and offer crypto custody services.

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This achievement contrasts with Coinbase’s experience, which faced a block in Kazakhstan in December 2023 for breaching local digital asset regulations. While Binance advances, other exchanges in Kazakhstan, like CaspianEx and Bybit, have only received provisional approvals.

Additionally, Binance recently regained its regulatory approval to operate in India after resolving issues related to anti-money laundering regulations. This follows a seven-month suspension and a $2.25 million fine imposed in June.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.