Crypto exchange Binance has received a permanent license from Kazakhstan to operate a digital-asset platform and provide custody services at the Astana International Financial Center (AIFC), a financial hub in the country.
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Binance said the permanent license makes it a regulated platform in Kazakhstan and attests to its “strong compliance and security controls.”
Binance will offer digital-asset exchange and conversion services, the deposit and withdrawal of fiat currencies, cryptocurrency custody, and exchange trading in the country. Its range of services is expected to “significantly expand” in the future, the company said.
The company also said online registration will be available to individuals and legal entities, regardless of their country of residence.
The Kazakhstan government “has made significant changes to relevant legislation and the regulatory environment, thereby setting the highest compliance standards for cryptocurrency platforms,” said Gleb Kostarev, regional head of Asia at Binance.
Binance said the financial services regulatory committee of the AIFC is the financial hub’s independent regulator and the only body overseeing activities related to digital assets in Kazakhstan.
See also: Org Chart: A closer look at the people who run Binance
Editing by Deepti Sri and Arpit Nayak
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