- Binance Kazakhstan earns full regulatory license from AFSA for virtual assets trading.
- Extensive review process included audits and ISO certifications for operational compliance.
- License will enhance Binance’s offerings and support Kazakhstan’s digital asset ecosystem.
Binance Kazakhstan has achieved a significant milestone by securing a full regulatory license from the Astana Financial Services Authority (AFSA). This license authorizes Binance Kazakhstan to operate as a virtual assets trading facility, offering a comprehensive range of services related to virtual assets.
The journey to obtaining this license involved a thorough and meticulous review process. Binance Kazakhstan underwent an extensive external financial audit and secured ISO certifications for its IT systems.
Additionally, both internal and external audits were conducted to ensure that all regulatory standards were met. The AFSA also performed a rigorous evaluation to confirm that Binance Kazakhstan adhered to the highest standards of regulatory compliance and operational excellence.
The AFSA oversees financial and non-financial services within the Astana International Financial Centre (AIFC) in Kazakhstan, ensuring a well-regulated and secure financial environment. This regulatory framework aims to foster trust and stability in the financial sector.
When fully licensed, Binance Kazakhstan will be allowed to run a virtual asset trading platform, conduct principal investment business and provide virtual asset custody services. This enhanced licensing will allow Binance Kazakhstan to increase its services and offer better assistance to the users in the local cryptocurrency market.
According to Vishal Sacheendran, Binance’s Head of Regional Markets, this is a big accomplishment. He said, “This pre-approval speaks to our dedication to compliance and security and we are looking forward to the full license to continue serving our users in Kazakhstan and help develop the digital asset market in the country. ”
Binance Kazakhstan is now in the process of fully launching its newly obtained license, and the company wants to become the new reference in digital asset trading platforms in the area. This step is expected to increase the innovation, enhance the trust and develop the digital assets market in Kazakhstan in line with the overall vision of Binance to foster the development of
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