Binance announces it got In-Principle approval to operate in Kazakhstan from the Astana Financial Services Authority (AFSA).
The crypto exchange can now set up its Digital Asset Trading Facility and Provide Custody in the Astana International Financial Centre (AIFC).
AFSA is an independent organization within Kazakhstan that help regulate financial services related to AIFC, Fintech, and other technological innovations including digital assets. It is the first regulator within the country to give in-principle approval to Binance.
“Kazakhstan has shown itself to be a pioneer in Central Asia crypto adoption and regulation,” said Changpeng Zhao (CZ), founder and CEO of Binance.
The crypto exchange will require to complete the application process before it can officially begin operating in the country.
Similarly, Hippo Financial by Gate.io obtains a license from the Registry for Trust and Company Service Providers in Hong Kong to operate as a virtual asset custodial services provider.
Gate.io CEO Han Lin says obtaining a license from Hong Kong is essential as the country is a hub of financial institutions and investors.
Additionally, “the industry-leading regulatory regime of Hong Kong provides additional confidence for investors that place assets in Hippo FS's custody,” he said.