Popular crypto exchange Binance got approval by authorities to provide services in Central Asian country Kazakhstan. An announcement by the exchange says the permanent license identifies Binance as a regulated business with strong compliance and security controls.
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Binance will be able to offer exchange and conversion services, fiat deposit and withdrawal, crypto storage and trading. Legal entities and individuals from any country will be able to register. The Binance team mentioned that the platform plans to expand continuously.
Gleb Kostarev, Binance Asia Director said the exchange supports Kazakhstan's intention to become a key player in digital technologies and crypto. He noted the significant changes in regulations made by the government. The executive also mentioned that the step is another move forward in Binance's aim to be a compliance-centered platform.
Previously, Binance and the Kazakhstan fin. regulator built a partnership to fight crypto fraud.