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Binance all set to initiate its crypto operations in Kazakhstan

According to a press statement published on October 6, the top cryptocurrency exchange Binance, has secured a licence to operate in Kazakhstan. Binance will be allowed to function as a regulatory platform and provide custody services for digital assets in the Astana International Financial Center after receiving a licence to do so from the Astana Financial Services Authority (AFSA).

In Kazakhstan, users would be able to use Binance for all of their financial transactions, including deposits, withdrawals, cryptocurrency holdings, and trades. In addition, the exchange has already begun to have an effect on Kazakhstan’s governing bodies as a result of the support it has provided to the country’s government and its successful acquisition of a temporary operating licence there.

Binance official blog:

In addition, the Financial regulatory agency of the Republic of Kazakhstan and Binance recently signed a Memorandum of Understanding (MoU). By entering into this agreement, the parties want to work together to increase the number of people in the area who have access to cryptocurrencies.

Notably, Binance made the announcement in the month of May, that it would help the government in the process of developing legislation for digital assets. Additionally, the exchange has broadened its legal footing and has been granted legal authority as well as interim permits from a number of additional nations. Binance just made an announcement on the opening of a local office in Bucharest, Romania. This office will help customers who want to trade in Romanian and is part of the company’s expansion into Eastern European countries.

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Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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