Binance Kazakhstan: The First to Secure a Full Regulatory License From AFSA
Main Takeaways
Binance Kazakhstan has become the first digital-asset platform to obtain a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority (AFSA), allowing it to operate a trading facility, act as a broker-dealer, and provide custody services for digital assets.
The rigorous multi-stage review process for the DATF license included external financial audits, ISO certifications, and compliance with multiple regulatory frameworks.
This regulatory milestone highlights Kazakhstan's forward-thinking approach to financial innovation and Binance's commitment to operating at the highest standards of trust and security.
Closely following the recent announcement of Binance Kazakhstan obtaining formal consent from the Astana Financial Services Authority (AFSA) for a regulatory license, we are now excited to share that our Kazakhstan subsidiary has become the first digital-asset platform to obtain a full Digital Asset Trading Facility (DATF) license from the regulator. The license authorizes Binance Kazakhstan to operate a digital assets trading facility, act as a broker-dealer, and provide custody services for digital assets.
An Exciting First For Binance and the Region
Kazakhstan has become the first country in Central Asia where a Binance entity has secured a regulatory license, highlighting the nationâs forward-looking approach to financial innovation and Binance's sustained commitment to operating at the highest standards of trust and security in line with all applicable local regulations.
Vishal Sacheendran, Head of Regional Markets at Binance, praised Kazakhstan as a key hub for innovation and growth in the region. He said that the country's âforward-thinking regulatory framework and commitment to fostering a secure and compliant environmentâ make it an ideal location for advancing digital-asset trading.
For Binance Kazakhstan, obtaining the full DATF license meant undergoing a rigorous and comprehensive review, including an External Financial Audit, ISO certifications, and multiple internal and external audits to ensure full compliance with all applicable regulatory requirements.Â
Up to the Highest Standards
The multi-stage review by the regulator saw Binance Kazakhstan being assessed against the standards set out in a variety of specialized codes and rulebooks: the AIFC Digital Asset Activities, Conduct of Business Rules, AML laws, and other relevant regulations. The resulting approval underscores the fit of Binance Kazakhstan's robust systems, controls, and cybersecurity protocols for the task of providing a secure, compliant platform for digital-asset trading.
Vishal Sacheendran commented: âBy obtaining the full DATF license, Binance Kazakhstan is not only reinforcing its dedication to regulatory compliance but also contributing to the broader development of the crypto ecosystem in Central Asia. We are excited about the opportunities this brings and look forward to driving further innovation and adoption in Kazakhstan and beyond."
Binance Kazakhstan securing the first full DATF license from the Astana Financial Services Authority marks a significant milestone for both Binance and the Central Asian region. This accomplishment underscores Kazakhstan's progressive stance on financial innovation and Binance's unwavering commitment to regulatory compliance and security. Binance Kazakhstan is well-positioned to advance digital-asset trading in a secure and compliant manner, contributing to the broader development of the crypto ecosystem in the region.