coinjournal.net
- Binance Kazakhstan has secured a full DATF license from AFSA for digital assets.
- The license allows trading, brokerage, and custody services in Central Asia.
- The crypto exchange underwent rigorous audits and ISO certifications to ensure compliance with regulatory standards.
In a significant regulatory development, Binance Kazakhstan has successfully obtained a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority (AFSA).
This milestone enables the platform to offer a comprehensive range of services, including trading, broker-dealer activities, and custody of digital assets within the region.
Binance Kazakhstan a pioneer in Central Asia’s digital asset space
This achievement not only marks Binance Kazakhstan as a pioneer in Central Asia’s digital asset landscape but also reflects its commitment to meeting stringent regulatory standards.
The DATF license empowers Binance to establish a robust trading facility in Kazakhstan, aligning its operations with the regulatory framework set forth by the Astana International Financial Centre (AIFC).
To secure this license, Binance Kazakhstan underwent an extensive multi-stage review process. This included thorough external financial audits and ISO certifications, ensuring compliance with key regulatory codes, such as the AIFC Digital Asset Activities and Conduct of Business Rules, alongside strict anti-money laundering (AML) regulations. These measures are vital in establishing the trust and security needed for users engaging in trading and custody services.
Binance’s foray into Kazakhstan is indicative of the growing acceptance and regulatory advancements within the cryptocurrency sector, particularly in Central Asia.
By becoming the first digital asset platform in the region to obtain such a license, Binance Kazakhstan sets a benchmark for other platforms aspiring to operate under similar regulatory conditions.
Binance’s proactive approach highlights the importance of regulatory compliance in fostering a secure and reliable environment for cryptocurrency trading. The licensing milestone not only benefits Binance but also enhances the overall legitimacy of the digital asset industry in Kazakhstan and beyond.