Binance will open a branch in Kazakhstan

The Binance cryptocurrency exchange plans to launch a branch in Kazakhstan by mid-2023. About it writes RIA Novosti with reference to the statement of the regional director of the company Vladimir Smerkis.

According to him, the exchange will be able to offer exchange and conversion services, deposits and withdrawals of fiat currencies, storage of cryptocurrency assets and exchange trading.

“On the site, registration will be available for individuals and legal entities from any country. The range of services and services of the exchange will be constantly expanding,” Smerkis said.

He noted that thanks to the law on digital assets adopted in the country and the special legal regime created on the basis of the AIFC, Kazakhstan is the most attractive country of the former USSR in terms of regulating the cryptocurrency market. Smerkis also pointed to progress in issuing a local CBDC.

“Kazakhstan has become sort of a pioneer for regulators around the world in researching the DeFi industry and facilitating how traditional finance and the crypto industry can be connected for the benefit of end users,” he said.

In September 2022, Binance received a license in Kazakhstan to operate a digital asset platform and engage in custodial activities in the AIFC.

Source: CryptoNewsHerald.com

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