Binance, which acquired a license from Kazakhstan last year, announced that it will launch a regulated local crypto exchange in the country.
Continuing the legal struggle with US regulators, Binance made a new move. Binance has announced that it will launch a licensed and regulated crypto platform in Kazakhstan.
Last year, Binance obtained a digital asset service provider license in Kazakhstan from the AIFC Financial Services Authority. The exchange is preparing to launch its local platform using this license.
Binance Launches Its Native Platform in Kazakhstan
Binance, on the SEC’s radar, has announced that it will launch a regulated local crypto exchange in Kazakhstan.
Binance’s new platform will offer users crypto exchange and conversion services in Kazakhstan. In addition, deposits and withdrawals for fiat currencies will also be activated on this native platform. The exchange’s planning includes expanding the service packages available on the local platform.
Binance, which knocked on Kazakhstan’s door in October last year, received a regulatory license from the country. With this license, the exchange, which was approved to manage a digital asset platform, is now preparing to launch its native exchange.
Binance’s license from Kazakhstan was issued by the AIFC Financial Services Authority. This license gives Binance the power of a regulated platform.
Kazakhstan Deputy Minister of Digital Development, Innovation and Aviation Industry Asset Turysov said the following on the subject;
Over the past year, regulators in Kazakhstan have taken important steps towards the development of the cryptocurrency industry. Binance has assisted Kazakhstan in developing a legal framework and general policy for the regulation of crypto-assets, as well as implementing various educational initiatives, including government and law enforcement and regulators.
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