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Binance has moved a step closer to becoming the first Digital Asset Trading Facility (DTAF) in Kazakhstan to obtain a full operating license. The blockchain company is undergoing the final stages of regulatory approval, having successfully completed several rigorous processes, including external financial audits, internal reviews, and regulatory inspections, to ensure full compliance with local laws.
The Astana Financial Services Authority (AFSA) also conducted evaluations of Binance Kazakhstan, focusing on the reliability of its systems and cybersecurity measures. Once fully licensed, Binance will be authorized to trade, manage investments, and provide custody services for digital assets within the country.
Vishal Sacheendran, Head of Regional Markets at Binance, expressed his enthusiasm, stating, “We are thrilled to receive this formal pre-approval from AFSA as we approach our full regulatory license. This accomplishment underscores our commitment to maintaining the highest levels of compliance, security, and operational excellence. We look forward to obtaining the full license, continuing to serve our users in Kazakhstan, and contributing to the growth of the local digital asset ecosystem.”
In addition to its activities in Kazakhstan, Binance also registered with India’s Financial Intelligence Unit in August 2024, further expanding its regulatory footprint in key markets.
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