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The infamous cryptocurrency exchange, Binance, announced today that the AIFC Financial Services Authority (AFSA) has granted it an operating license for a digital asset network and offers custodial solutions at the Astana International Financial Center in Kazakhstan. Binance will be permitted to deploy its services at the Astana International Financial Center as a digital asset network site operator and custodial service provider.
Binance - A Regulated Network In Kazakhstan
In Kazakhstan, Binance now holds the position of a regulated network with strict security and compliance regulations due to the permanent license. The exchange will be able to provide exchange and conversion activities, fiat currency deposits and withdrawals, cryptocurrency asset holding, and exchange trading. Individuals and organizations with legal status from any nation can register on the website. The exchange will continually diversify its service offerings. Binance declared in May that it would contribute to the development of national regulations for digital assets. In addition, the exchange has strengthened its compliance team and received licenses and preliminary permits from nations and jurisdictions, including France, Dubai, and Spain, after angering regulators in the United Kingdom and Japan last year, as well as Uzbekistan and Israel this year. Gleb Kostarev, Binance Asia Director, stated that the most significant levels of compliance had been established for cryptocurrency platforms in the republic by the government's considerable revisions to the law and the regulatory environment. He further applauded Binance by saying:
"We welcome the intention of Kazakhstan to become a leading player in the field of new digital technologies and the cryptocurrency ecosystem. We proudly announce that Binance has taken another step in its quest to be a compliance-focused exchange."
Binance Announced Signing MoU With CDFT
Recently, Binance and the Financial Monitoring Agency of the Republic of Kazakhstan (CDFT) signed a Memorandum of Understanding (MoU). In the agreement, the parties emphasized a comparable measure for a long-term, sustainable communication medium and the secure expansion of virtual asset markets in the country.