Binance Kazakhstan, a branch of the global Binance blockchain ecosystem, has received formal consent from the Astana Financial Services Authority (AFSA) to grant it a full regulatory license.
This development brings Binance Kazakhstan closer to becoming the first fully regulated Digital Asset Trading Facility (DATF) operator in Kazakhstan.
The approval highlights Binance Kazakhstan’s adherence to local regulations and commitment to high standards in operational security and compliance.
The entity has undergone an extensive evaluation process, including an External Financial Audit, ISO certifications following an audit of its information systems, and several internal audits and external regulatory reviews to ensure it meets all regulatory requirements.
The license will enable Binance Kazakhstan to operate a virtual assets trading platform, deal in investments as a principal, and provide custody services for virtual assets under full regulatory approval.
Binance Kazakhstan successfully tested its offerings, passing a rigorous assessment by the regulator following 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, said that this accomplishment shows how serious they are about following rules, keeping things secure, and running their business well.
He added that they are excited to get a full license to operate in Kazakhstan, so they can keep helping their users and support 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 received legal approval to operate in several countries and offer cryptocurrency services. In France, it is registered to provide digital asset services. In Italy, Spain, Lithuania, and Abu Dhabi, as well as Mexico and El Salvador, Binance can offer crypto exchange and storage services.
Two years ago, Binance partnered with Air Astana, the largest airline in Kazakhstan, and last year, Binance launched a regulated digital asset platform
