In a bold move, Binance the global leader in crypto trading, has announced the launch of its regulated exchange platform in Kazakhstan.
Although Kazakhstan is a relatively small Central Asian country with a population of 20 million, Binance’s arrival on its territory is testament to the platform’s growing international expansion.
Binance to the Kazakh public!
In its official press release, Binance revealed that last year it obtained a permanent crypto license from the Financial Services Authority of AIFC (Astana International Financial Centre) in Kazakhstan. Today, the crypto exchange opens its doors to the Kazakh public.
Kazakhstan’s Deputy Minister of Digital Development, Innovation and Aerospace Industry, Asset Turysov, said:
“Over the past year, Kazakh regulators have made significant strides in the development of the crypto-currency industry. Binance has provided support by contributing to the development of a legislative framework and general policy governing the regulation of crypto assets, as well as implementing various educational initiatives aimed at government agencies, law enforcement and regulatory bodies.”
Jhaslan Madiyev, Managing Director of Binance Kazakhstan, also expressed his gratitude to the regulators for their vital contribution to the development of the crypto-industry as a whole:
“Thanks to our ongoing exchanges with Kazakh regulators, we plan to significantly expand our product offering for users of the local exchange platform by the end of the year. We aim to make no fewer than 100 approved digital assets available on our platform.”
Despite the legal issues it faces in the US with the Securities and Exchange Commission (SEC), Binance continues to obtain licenses in countries where crypto-trading is booming, such as Kazakhstan, which is also known to be home to numerous Bitcoin mining farms.
It should be recalled that Binance has already obtained crypto licenses in numerous countries, including France, Spain, Poland, Sweden, the United Arab Emirates (UAE), Dubai, Italy and Japan.