By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Binance and Bybit Making Progress Towards Becoming Kazakhstan’s First Regulated DATFs
Share
Notification Show More
Latest News
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Crypto > Binance and Bybit Making Progress Towards Becoming Kazakhstan’s First Regulated DATFs
Crypto

Binance and Bybit Making Progress Towards Becoming Kazakhstan’s First Regulated DATFs

News Room
Last updated: 2024/09/06 at 10:00 PM
News Room
Share
3 Min Read
SHARE

Cryptocurrency exchanges Bybit and Binance have made significant progress towards becoming fully regulated Digital Asset Trading Facilities in Kazakhstan, receiving full authorization from the Astana Financial Services Authority (AFSA). Bybit and Binance underwent a rigorous regulatory process, including anti-money laundering checks and compliance assessments, to secure these licenses. This move by Kazakhstan demonstrates the country’s commitment to establishing itself as a regulated Digital Asset Trading Facility and promoting a secure environment for digital asset trading.

By receiving full authorization from the AFSA, Bybit and Binance are now able to offer a wider range of crypto-related services in Kazakhstan and the broader Commonwealth of Independent States (CIS) region. Binance, in particular, is the first Digital Asset Service Provider to obtain AFSA consent for a full regulatory license, marking a significant milestone for the exchange. Vishal Sacheendran, Binance’s Head of Regional Markets, expressed excitement about obtaining the full license and serving users in Kazakhstan.

Kazakhstan’s proactive approach to regulating the crypto industry has positioned it as a growing crypto powerhouse. The country’s financial regulator has previously shut down nearly 1,000 non-compliant crypto exchanges as part of efforts to protect investors and combat illicit activities in the digital asset space. The Astana International Financial Center (AIFC) plays a crucial role in overseeing the licensing process for crypto operations in Kazakhstan, ensuring compliance with the country’s Digital Assets Law enacted in February 2023.

The Kazakhstan Financial Monitoring Agency has been vigilant in blocking illegal platforms operating without proper registration and investigating unregistered exchange operations and potential money laundering activities. These efforts are essential for upholding the regulations outlined in the Digital Assets Law, which mandates that digital currencies can only be created and traded under a national license. With Bybit and Binance now fully authorized, Kazakhstan is solidifying its position as a regulated crypto-friendly jurisdiction, opening up opportunities for increased digital asset participation and investment in the region.

Overall, the authorization of Bybit and Binance as fully regulated Digital Asset Trading Facilities in Kazakhstan marks a significant step towards establishing a secure and compliant environment for digital asset trading in the country and the wider CIS region. Kazakhstan’s commitment to regulation and compliance in the crypto industry positions it as a leader in fostering a safe and transparent ecosystem for investors and traders. The approval of these exchanges showcases the progress made by Kazakhstan in strengthening its regulatory framework for digital assets and promoting responsible crypto trading practices.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room September 6, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Tomorrow, the Qatar Pavilion at Gwangju Biennale in South Korea will be opening.
Next Article Commerzbank reports Brent oil dropped by over 10% last week
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World June 28, 2025

You Might also Like

Crypto

Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide

May 22, 2025
BusinessCrypto

Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025

May 20, 2025
BusinessCrypto

RWA project FEXSE tokenises $600,000 Jacob & Co. luxury watch on the blockchain

April 14, 2025
BusinessCrypto

Forbes Lists Bitget Amongst The World’s Most Trustworthy Crypto Exchanges

February 1, 2025
BusinessCrypto

Bitget Leverages AI Algorithms for Token Listing with the Launch of Bitget Seed

January 27, 2025
BusinessCrypto

Bitget to List Official TRUMP Meme Token for Spot Trading

January 23, 2025
BusinessCrypto

Bitget LaunchX to Support Jambo’s $5 Million Fundraising for Satellite Launch Program

January 18, 2025
BusinessCrypto

Bitget Unveils Over $5 Billion Worth of BGB Token Burn in New Whitepaper

December 28, 2024
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?