Kazakhstan
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What an event! Thank you #Binance and rahmet #Kazakhstan for such hospitality. A lot of information and active #binancians !
Have you been to today's meetup? If yes, what do you think about the recent event?☺️
Have you been to today's meetup? If yes, what do you think about the recent event?☺️
The Ministry of Information clarified that the Ministry of Digital Development, Innovation, and Aerospace Industry requested restrictions on Coinbase.
#coinbase #Kazakhstan
https://blockchainreporter.net/kazakhstan-blocks-coinbase-website-over-violation-of-digital-asset-laws/
#coinbase #Kazakhstan
https://blockchainreporter.net/kazakhstan-blocks-coinbase-website-over-violation-of-digital-asset-laws/
NEW: 🇷🇺 Russia has overtaken 🇰🇿 Kazakhstan to become the second-largest cryptocurrency mining country in the 🌍 world with 1 gigawatt of mining capacity.
#Russia #Kazakhstan #cryptocurrency #BTC #Binance
#Russia #Kazakhstan #cryptocurrency #BTC #Binance
**Just In: 🔔 Kazakh Cryptocurrency Miners Urge President for Tax Reduction Amid Threats of Closure**
#CryptocurrencyMining #Kazakhstan #Taxation #CryptoNews #MiningTax
#CryptocurrencyMining #Kazakhstan #Taxation #CryptoNews #MiningTax
🔥💥Zhaslan Madiyev, General Manager of Binance crypto exchange in Kazakhstan, was appointed as the Minister of Digital Development.
in a development that has taken place, Zhaslan Madiev, General Manager of the Kazakhstan division of the #Binance crypto exchange, has been appointed Minister of Digital Development in the country. This update was announced by Binance CEO #RichardTeng in a post on the social media platform X.
The Effects of Binance in Kazakhstan
This news created a huge reaction in the community with notes about what it means for Binance.
"We have full confidence that Zhaslan's passion and expertise will drive forward important digital development initiatives in Kazakhstan," Teng said in his post.
Madiev's appointment as a Minister in Kazakhstan coincides with a very important time for Binance, given the recent legal difficulties that have caused disruptions for the firm.
Madiev's appointment may also make crypto regulations in Kazakhstan clearer. Therefore, this can create a favorable environment for cryptocurrency to develop in the country. Recall that the government blocked several crypto exchanges, including Coinbase, last year, citing violations of local laws.
Crypto Expansion in Kazakhstan
The adoption of cryptocurrency can stimulate growth in any country through innovation, job creation and attracting investment. For Kazakhstan, Madiev, through his appointment as Minister, can lead initiatives aimed at taking advantage of these opportunities and accelerating economic development in the country.
November Sunday, Kazakhstan introduced the 'digital tenge' to the retail market of the country as part of the crypto development. This innovation promises to facilitate transactions and improve the economy. The digital currency aims to integrate with major payment platforms such as Apple Pay and Samsung Pay.
In addition, Kazakhstan has partnered with major financial institutions such as Visa, Mastercard and local banks. With these developments, Kazakhstan positions itself as the jurisdiction of the province.
#Kazakhstan #BTC @Richard Teng
in a development that has taken place, Zhaslan Madiev, General Manager of the Kazakhstan division of the #Binance crypto exchange, has been appointed Minister of Digital Development in the country. This update was announced by Binance CEO #RichardTeng in a post on the social media platform X.
The Effects of Binance in Kazakhstan
This news created a huge reaction in the community with notes about what it means for Binance.
"We have full confidence that Zhaslan's passion and expertise will drive forward important digital development initiatives in Kazakhstan," Teng said in his post.
Madiev's appointment as a Minister in Kazakhstan coincides with a very important time for Binance, given the recent legal difficulties that have caused disruptions for the firm.
Madiev's appointment may also make crypto regulations in Kazakhstan clearer. Therefore, this can create a favorable environment for cryptocurrency to develop in the country. Recall that the government blocked several crypto exchanges, including Coinbase, last year, citing violations of local laws.
Crypto Expansion in Kazakhstan
The adoption of cryptocurrency can stimulate growth in any country through innovation, job creation and attracting investment. For Kazakhstan, Madiev, through his appointment as Minister, can lead initiatives aimed at taking advantage of these opportunities and accelerating economic development in the country.
November Sunday, Kazakhstan introduced the 'digital tenge' to the retail market of the country as part of the crypto development. This innovation promises to facilitate transactions and improve the economy. The digital currency aims to integrate with major payment platforms such as Apple Pay and Samsung Pay.
In addition, Kazakhstan has partnered with major financial institutions such as Visa, Mastercard and local banks. With these developments, Kazakhstan positions itself as the jurisdiction of the province.
#Kazakhstan #BTC @Richard Teng
🚨🚨Breaking: #Binance launches a regulated platform in #Kazakhstan .
This local platform will be authorized to offer exchange and conversion services, deposit and withdrawal of fiat currencies, custody of crypto assets, and exchange trading.
$BNB #crypto2023 #Binance
This local platform will be authorized to offer exchange and conversion services, deposit and withdrawal of fiat currencies, custody of crypto assets, and exchange trading.
$BNB #crypto2023 #Binance
CZ, President of Kazakhstan Sign MoU to Boost Blockchain Technology
#crypto2023 news update :
Signing in #Kazakhstan :
On June 21, 2023, CZ, the CEO of Binance, signed a memorandum of understanding (MoU) with the President of Kazakhstan, Kassym-Jomart Tokayev, and the Minister of Information Technology, Bagdat Mussin. The MoU was signed in Astana, the capital of Kazakhstan .
The MoU is a framework agreement that outlines the cooperation between Binance and the government of Kazakhstan in the field of cryptocurrency. The agreement covers a number of areas, including the development of a regulated cryptocurrency exchange in Kazakhstan, the promotion of blockchain technology, and the training of Kazakhstani citizens in the field of cryptocurrency.
The signing of the MoU is a significant development for the cryptocurrency industry in Kazakhstan. The country has been a major hub for cryptocurrency mining in recent years, and the signing of the MoU is a sign that the government is taking a more favorable stance towards the industry.
The MoU also provides a number of benefits for Binance. The company will be able to operate in Kazakhstan under a clear regulatory framework, and it will be able to access the country's large pool of skilled IT workers.
Left to right:
CZ, the CEO of Binance
President of Kazakhstan #Kassym-Jomart Tokayev
Minister of Information Technology Bagdat Mussin
The signing of the MoU is a positive development for both Binance and the government of Kazakhstan. It is a sign that the cryptocurrency industry is growing in Kazakhstan, and it is a step towards the adoption of blockchain technology in the country.
#opbnb $BTC
#zachxbt $ETH
$USDC
Signing in #Kazakhstan :
On June 21, 2023, CZ, the CEO of Binance, signed a memorandum of understanding (MoU) with the President of Kazakhstan, Kassym-Jomart Tokayev, and the Minister of Information Technology, Bagdat Mussin. The MoU was signed in Astana, the capital of Kazakhstan .
The MoU is a framework agreement that outlines the cooperation between Binance and the government of Kazakhstan in the field of cryptocurrency. The agreement covers a number of areas, including the development of a regulated cryptocurrency exchange in Kazakhstan, the promotion of blockchain technology, and the training of Kazakhstani citizens in the field of cryptocurrency.
The signing of the MoU is a significant development for the cryptocurrency industry in Kazakhstan. The country has been a major hub for cryptocurrency mining in recent years, and the signing of the MoU is a sign that the government is taking a more favorable stance towards the industry.
The MoU also provides a number of benefits for Binance. The company will be able to operate in Kazakhstan under a clear regulatory framework, and it will be able to access the country's large pool of skilled IT workers.
Left to right:
CZ, the CEO of Binance
President of Kazakhstan #Kassym-Jomart Tokayev
Minister of Information Technology Bagdat Mussin
The signing of the MoU is a positive development for both Binance and the government of Kazakhstan. It is a sign that the cryptocurrency industry is growing in Kazakhstan, and it is a step towards the adoption of blockchain technology in the country.
#opbnb $BTC
#zachxbt $ETH
$USDC
Binance Kazakhstan Goes Live 💹🔥
Great news and jubilations as Binance Exchange goes live in Kazakhstan, with Regulators help. This would now be referred to as Binance #Kazakhstan , just like we have Binance U.S and it's fully into compliance with the regulators in the region.
For those who don't know, Kazakhstan is a Country in Central Asia and with loads of potentials in digital growth and technological advancements.
In a recent tweet, #Binance shared insights to their latest development and progress towards #crypto2023 $ adoption. This event occurred on June 20th, 2023 and the statement read;
Binance Launches a Regulated Digital Asset Platform in Kazakhstan👇
Blog📰
🛑
More details reveal that, the regulators are very hopeful about the future of this new technology. In a series of statements, shared by Binance blog, it read;
the permanent license was secured from the AIFC Financial Services Authority (AFSA), to manage a digital asset platform and provide custodial services at the Astana International Financial Center (AIFC) in October last year...
According to Asset Turysov, Vice Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the government is running a special initiative to facilitate the interaction between the AIFC, cryptocurrency exchanges, and second-tier banks. The National Bank of Kazakhstan, the Financial Monitoring Agency of the Republic of Kazakhstan, as well as the Agency for Regulation and Development of the Financial Market all take part in this project, which has already shown excellent results.....
Turysov said: “Over the past year, regulators in Kazakhstan have taken significant steps towards the development of the cryptocurrency industry. Binance has provided assistance to Kazakhstan in the development of a legislative framework and a general policy for the regulation of crypto assets, as well as in the implementation of various educational initiatives, including for government and law enforcement agencies and regulators.”
Zhaslan Madiyev, General Manager of Binance Kazakhstan, noted that Binance is productively working with five regulatory bodies in the country: the AIFC Financial Services Authority (AFSA), the Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the National Bank of the Republic of Kazakhstan, the Financial Market Regulation and Development Agency, and the Financial Monitoring Agency.
Madiyev added: “I want to express my deep gratitude to all regulators for their huge contribution to the development of the entire cryptocurrency industry. Thanks to constantly being in touch with Kazakhstan regulators, by the end of the year we plan to significantly expand the product line for users of the local cryptocurrency exchange, as well as to have no less than 100 digital assets approved and available on the platform.”
Ablaykhan Ospanov, Managing Director of Bank Freedom Finance Kazakhstan JSC, called the launch of a pilot project for the operation of cryptocurrency exchanges in Kazakhstan a “major boost for the entire industry,” adding: “Many countries can follow Kazakhstan’s example. We see a great potential for the development of the blockchain and cryptocurrency industry, and we are also making great efforts to grow it.”
Binance Kazakhstan users can buy and sell cryptocurrencies using a fiat balance, spot trading, and conversion, with the range of services offered expected to expand. There are two channels available to deposit and withdrawal: bank cards and bank transfer via Freedom Finance Bank. The global Binance dot com platform will continue to be available to users in Kazakhstan.
With news like these, investors are more likely to focus on the industry while try to Capitalize on early access and price pumps. #bitcoin is already seeing all time highs of $30k after months of bearishness. 🔥
You can leave a comment below and tell us what you feel about these new developments and #news 👇
Follow 🛑 Like 🛑 Share Post 🛑 Comment 🛑
Thanks for reading!!!
For those who don't know, Kazakhstan is a Country in Central Asia and with loads of potentials in digital growth and technological advancements.
In a recent tweet, #Binance shared insights to their latest development and progress towards #crypto2023 $ adoption. This event occurred on June 20th, 2023 and the statement read;
Binance Launches a Regulated Digital Asset Platform in Kazakhstan👇
Blog📰
🛑
More details reveal that, the regulators are very hopeful about the future of this new technology. In a series of statements, shared by Binance blog, it read;
the permanent license was secured from the AIFC Financial Services Authority (AFSA), to manage a digital asset platform and provide custodial services at the Astana International Financial Center (AIFC) in October last year...
According to Asset Turysov, Vice Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the government is running a special initiative to facilitate the interaction between the AIFC, cryptocurrency exchanges, and second-tier banks. The National Bank of Kazakhstan, the Financial Monitoring Agency of the Republic of Kazakhstan, as well as the Agency for Regulation and Development of the Financial Market all take part in this project, which has already shown excellent results.....
Turysov said: “Over the past year, regulators in Kazakhstan have taken significant steps towards the development of the cryptocurrency industry. Binance has provided assistance to Kazakhstan in the development of a legislative framework and a general policy for the regulation of crypto assets, as well as in the implementation of various educational initiatives, including for government and law enforcement agencies and regulators.”
Zhaslan Madiyev, General Manager of Binance Kazakhstan, noted that Binance is productively working with five regulatory bodies in the country: the AIFC Financial Services Authority (AFSA), the Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the National Bank of the Republic of Kazakhstan, the Financial Market Regulation and Development Agency, and the Financial Monitoring Agency.
Madiyev added: “I want to express my deep gratitude to all regulators for their huge contribution to the development of the entire cryptocurrency industry. Thanks to constantly being in touch with Kazakhstan regulators, by the end of the year we plan to significantly expand the product line for users of the local cryptocurrency exchange, as well as to have no less than 100 digital assets approved and available on the platform.”
Ablaykhan Ospanov, Managing Director of Bank Freedom Finance Kazakhstan JSC, called the launch of a pilot project for the operation of cryptocurrency exchanges in Kazakhstan a “major boost for the entire industry,” adding: “Many countries can follow Kazakhstan’s example. We see a great potential for the development of the blockchain and cryptocurrency industry, and we are also making great efforts to grow it.”
Binance Kazakhstan users can buy and sell cryptocurrencies using a fiat balance, spot trading, and conversion, with the range of services offered expected to expand. There are two channels available to deposit and withdrawal: bank cards and bank transfer via Freedom Finance Bank. The global Binance dot com platform will continue to be available to users in Kazakhstan.
With news like these, investors are more likely to focus on the industry while try to Capitalize on early access and price pumps. #bitcoin is already seeing all time highs of $30k after months of bearishness. 🔥
You can leave a comment below and tell us what you feel about these new developments and #news 👇
Follow 🛑 Like 🛑 Share Post 🛑 Comment 🛑
Thanks for reading!!!
1, 2, 3, ..... 🔥
Binance #Kazakhstan has moved forward to assist regulatory authorities and security personnels on Blockchain education.
This will hopefully pave way for resolving law enforcement issues related to scammers and other financial crimes.
In a recent tweet, Binance shared this saying:
"The #Binance Law Enforcement Training team recently hosted a 4-day training program in Kazakhstan.
These sessions are just one part of our broader commitment to helping law enforcement agencies around the globe to combat cybercrimes."
It isa good time to be alive in #crypto2023 and all #news heads towards adoption. Hopefully, we could see a bull run soon and positioning for $BNB might be a good choice.
More details soon...
Follow 🛑 Like 🛑 Share Post Too 🛑
This post is not a financial advice, please dyor 🛑
Binance #Kazakhstan has moved forward to assist regulatory authorities and security personnels on Blockchain education.
This will hopefully pave way for resolving law enforcement issues related to scammers and other financial crimes.
In a recent tweet, Binance shared this saying:
"The #Binance Law Enforcement Training team recently hosted a 4-day training program in Kazakhstan.
These sessions are just one part of our broader commitment to helping law enforcement agencies around the globe to combat cybercrimes."
It isa good time to be alive in #crypto2023 and all #news heads towards adoption. Hopefully, we could see a bull run soon and positioning for $BNB might be a good choice.
More details soon...
Follow 🛑 Like 🛑 Share Post Too 🛑
This post is not a financial advice, please dyor 🛑
Binance Enters Central Asia with Launch of Local Service in Kazakhstan
Binance, which obtained a permanent license in Kazakhstan in October last year, has launched a local trading platform in the Central Asian country. The new platform will offer users trading and custody of digital assets, deposit and withdrawal of fiat currencies as well as conversion services, Binance mentioned in a blog post published today .
Binance’s presence in Kazakhstan marks its first presence in the Central Asia sub-region although the world’s largest cryptocurrency exchange offers support to users in several countries across Asia. The exchange’s launch in Kazakhstan comes as regulators seek to develop the country’s cryptocurrency industry.
“Binance has provided assistance to Kazakhstan in the development of a legislative framework and a general policy for the regulationRegulationLike any other industry with a high net worth, the...Read this Term of crypto assets, as well as in the implementation of various educational initiatives, including for government and law enforcement agencies and regulators,” explained Asset Turysov, Kazakhstan’s Vice Minister for Digital Development, Innovation and Aerospace Industry.
To float its local services in Kazakhstan, Binance also partnered with local financial services provider, Bank Freedom Finance Kazakhstan JSC. The collaboration provides users in the country with the ability to transfer fiat funds to accounts on the new trading platform. Moreover, Binance plans to expand the trading platform in the coming months.
“Thanks to constantly being in touch with Kazakhstan regulators, by the end of the year we plan to significantly expand the product line for users of the local cryptocurrency exchange, as well as to have no less than 100 digital assets approved and available on the platform," Zhaslan Madiyev, the General Manager of #Binance #Kazakhstan , stated.
Binance’s presence in Kazakhstan marks its first presence in the Central Asia sub-region although the world’s largest cryptocurrency exchange offers support to users in several countries across Asia. The exchange’s launch in Kazakhstan comes as regulators seek to develop the country’s cryptocurrency industry.
“Binance has provided assistance to Kazakhstan in the development of a legislative framework and a general policy for the regulationRegulationLike any other industry with a high net worth, the...Read this Term of crypto assets, as well as in the implementation of various educational initiatives, including for government and law enforcement agencies and regulators,” explained Asset Turysov, Kazakhstan’s Vice Minister for Digital Development, Innovation and Aerospace Industry.
To float its local services in Kazakhstan, Binance also partnered with local financial services provider, Bank Freedom Finance Kazakhstan JSC. The collaboration provides users in the country with the ability to transfer fiat funds to accounts on the new trading platform. Moreover, Binance plans to expand the trading platform in the coming months.
“Thanks to constantly being in touch with Kazakhstan regulators, by the end of the year we plan to significantly expand the product line for users of the local cryptocurrency exchange, as well as to have no less than 100 digital assets approved and available on the platform," Zhaslan Madiyev, the General Manager of #Binance #Kazakhstan , stated.
**🇰🇿 Kazakhstan to Ease Taxation for Crypto Industry**: Kazakhstan is set to reduce the tax burden on cryptocurrency exchanges and mining companies starting next year. The value-added tax (VAT) imposed on exchanges will be exempted, and the mining tax will be reduced from 10 tenge per kWh to 1 tenge. This move aims to support and promote the cryptocurrency industry in the country. 🇰🇿💰 #Kazakhstan #CryptoTaxation #CryptocurrencyTips
Central Bank of #Kazakhstan #Experiments with Digital Tenge Pilot
The Central Bank of Kazakhstan has announced the launch of a pilot program for a digital tenge, the country's national currency. This #digitalcurrency will be issued and controlled by the central bank and operate on a #blockchain platform. The pilot will involve a limited number of participants and will initially focus on testing the feasibility and efficiency of the digital tenge for domestic payments.
Significance: This news highlights the growing interest among central banks around the world in exploring central bank digital currencies (CBDCs). If successful, the pilot program could pave the way for the wider adoption of the digital tenge in Kazakhstan and potentially inspire other countries to explore similar initiatives.
#TrendingTopic
$SOL
The Central Bank of Kazakhstan has announced the launch of a pilot program for a digital tenge, the country's national currency. This #digitalcurrency will be issued and controlled by the central bank and operate on a #blockchain platform. The pilot will involve a limited number of participants and will initially focus on testing the feasibility and efficiency of the digital tenge for domestic payments.
Significance: This news highlights the growing interest among central banks around the world in exploring central bank digital currencies (CBDCs). If successful, the pilot program could pave the way for the wider adoption of the digital tenge in Kazakhstan and potentially inspire other countries to explore similar initiatives.
#TrendingTopic
$SOL
Kazakhstan Welcomes Binance: World's Largest Crypto Exchange Launches in AIFC
#crypto2023 news update :
Binance Launches Regulated Exchange in Kazakhstan :
#Binance , the world's largest cryptocurrency exchange, has launched a regulated exchange in #Kazakhstan . The new exchange, called Binance Kazakhstan, is licensed by the Astana Financial Services Authority (AFSA).
Binance Kazakhstan will offer a range of cryptocurrency trading services, including spot trading, margin trading, and futures trading. The exchange will also offer fiat-to-cryptocurrency trading pairs, allowing users to buy and sell cryptocurrencies with Kazakh Tenge.
The launch of Binance Kazakhstan is a significant development for the cryptocurrency industry in Kazakhstan. The country has been a major hub for cryptocurrency mining in recent years, and the launch of a regulated exchange is a sign that the government is taking a more favorable stance towards the industry.
Details of the Launch :
The launch of Binance Kazakhstan was announced on June 21, 2023. The exchange is located in the Astana International Financial Center (AIFC), which is a special economic zone that offers favorable regulatory conditions for businesses.
Binance Kazakhstan is licensed by the AFSA, which is the financial regulator for the AIFC. The exchange has also been granted a "Category 4" license, which allows it to offer a range of cryptocurrency trading services.
The Benefits of the Launch :
The launch of Binance Kazakhstan is a significant development for the cryptocurrency industry in Kazakhstan. The country has been a major hub for cryptocurrency mining in recent years, and the launch of a regulated exchange is a sign that the government is taking a more favorable stance towards the industry.
The launch of Binance Kazakhstan will also provide a number of benefits for users. The exchange will offer a wide range of cryptocurrency trading services, and it will be regulated by the AFSA. This means that users can be confident that their funds are safe and that the exchange is compliant with local regulations.
The Future of Cryptocurrency in Kazakhstan :
The launch of Binance Kazakhstan is a positive sign for the future of cryptocurrency in Kazakhstan. The country has a strong track record in the mining industry, and the launch of a regulated exchange will make it easier for businesses and individuals to participate in the cryptocurrency ecosystem.
It is likely that we will see more cryptocurrency exchanges launch in Kazakhstan in the future. As the industry continues to grow, the government is likely to become more supportive of cryptocurrency businesses. This will make Kazakhstan an even more attractive destination for cryptocurrency investors and entrepreneurs.
#opbnb #zachxbt
$BTC $BNB
$ETH
Binance Launches Regulated Exchange in Kazakhstan :
#Binance , the world's largest cryptocurrency exchange, has launched a regulated exchange in #Kazakhstan . The new exchange, called Binance Kazakhstan, is licensed by the Astana Financial Services Authority (AFSA).
Binance Kazakhstan will offer a range of cryptocurrency trading services, including spot trading, margin trading, and futures trading. The exchange will also offer fiat-to-cryptocurrency trading pairs, allowing users to buy and sell cryptocurrencies with Kazakh Tenge.
The launch of Binance Kazakhstan is a significant development for the cryptocurrency industry in Kazakhstan. The country has been a major hub for cryptocurrency mining in recent years, and the launch of a regulated exchange is a sign that the government is taking a more favorable stance towards the industry.
Details of the Launch :
The launch of Binance Kazakhstan was announced on June 21, 2023. The exchange is located in the Astana International Financial Center (AIFC), which is a special economic zone that offers favorable regulatory conditions for businesses.
Binance Kazakhstan is licensed by the AFSA, which is the financial regulator for the AIFC. The exchange has also been granted a "Category 4" license, which allows it to offer a range of cryptocurrency trading services.
The Benefits of the Launch :
The launch of Binance Kazakhstan is a significant development for the cryptocurrency industry in Kazakhstan. The country has been a major hub for cryptocurrency mining in recent years, and the launch of a regulated exchange is a sign that the government is taking a more favorable stance towards the industry.
The launch of Binance Kazakhstan will also provide a number of benefits for users. The exchange will offer a wide range of cryptocurrency trading services, and it will be regulated by the AFSA. This means that users can be confident that their funds are safe and that the exchange is compliant with local regulations.
The Future of Cryptocurrency in Kazakhstan :
The launch of Binance Kazakhstan is a positive sign for the future of cryptocurrency in Kazakhstan. The country has a strong track record in the mining industry, and the launch of a regulated exchange will make it easier for businesses and individuals to participate in the cryptocurrency ecosystem.
It is likely that we will see more cryptocurrency exchanges launch in Kazakhstan in the future. As the industry continues to grow, the government is likely to become more supportive of cryptocurrency businesses. This will make Kazakhstan an even more attractive destination for cryptocurrency investors and entrepreneurs.
#opbnb #zachxbt
$BTC $BNB
$ETH
🚫 Kazakhstan's Ministry of Culture and Information blocks local users from accessing Coinbase due to regulations prohibiting unauthorized cryptocurrency exchanges. 🇰🇿 #Kazakhstan #Coinbase #CryptocurrencyRegulations 📵
#Binance announced the opening of a regulated digital asset platform in #Kazakhstan on June 21, 2023, signalling a significant advancement in the nation's developing crypto market. Following its debut, Binance obtained a #licence from the #AIFC Financial Services Authority ( #AFSA ) in October 2022, allowing the business to run a platform for digital assets and offer custodial services.
- Canaan, a major high-performance computing and mining rig producer, is facing obstacles that will impact its bitcoin mining operations and revenue from Q3 2023 onwards.
- Regulatory changes in Kazakhstan have led #Canaan to reduce its mining power by 2 exahash per second (EH/s) since July, which is half of its mining power across Central Asia and North America.
- In addition to Kazakhstan's #regulatory challenges, Canaan is dealing with a contractual dispute with a hosting partner in the US over alleged violations of a joint mining agreement.
- The allegations against the hosting #partner include mishandling 13,000 of Canaan's Avalon mining rigs and demanding reimbursement of a $1.25 #million deposit and claimed bitcoin profits.
- These challenges from both #Kazakhstan and the US are expected to significantly impact Canaan's mining capacities in Q3 2023.
- Despite these setbacks, Canaan is committed to adapting its approach to address operational challenges in the volatile cryptocurrency industry.
- These developments come after Canaan's earlier announcement about a new product launch to commemorate its decade in the industry, which is set to coincide with rival Bitmain's Antminer machine launch.
- Canaan's stock has experienced a 28% decline against the US dollar over the past month amidst these challenges.
$BTC
- Regulatory changes in Kazakhstan have led #Canaan to reduce its mining power by 2 exahash per second (EH/s) since July, which is half of its mining power across Central Asia and North America.
- In addition to Kazakhstan's #regulatory challenges, Canaan is dealing with a contractual dispute with a hosting partner in the US over alleged violations of a joint mining agreement.
- The allegations against the hosting #partner include mishandling 13,000 of Canaan's Avalon mining rigs and demanding reimbursement of a $1.25 #million deposit and claimed bitcoin profits.
- These challenges from both #Kazakhstan and the US are expected to significantly impact Canaan's mining capacities in Q3 2023.
- Despite these setbacks, Canaan is committed to adapting its approach to address operational challenges in the volatile cryptocurrency industry.
- These developments come after Canaan's earlier announcement about a new product launch to commemorate its decade in the industry, which is set to coincide with rival Bitmain's Antminer machine launch.
- Canaan's stock has experienced a 28% decline against the US dollar over the past month amidst these challenges.
$BTC
