NUR-SULTAN – The Astana International Financial Center’s (AIFC) independent regulator – Astana Financial Services Authority (AFSA) – granted Binance, the world’s largest crypto exchange, in-principle approval to operate a digital asset trading facility and provide custody at the AIFC, the financial center’s press service reports on Aug. 15.
Chief Executive Officer of AFSA Nurkhat Kushimov noted that when large investors enter new markets, they look for clear-cut and well-managed rules as well as high standards of regulatory practice.
“When a regulator meets these requirements, it creates collaboration based on trust and an ecosystem where players can work safely and efficiently. We believe that Binance’s work will further develop this vibrant ecosystem of digital assets industry locally and regionally,” said Kushimov.
According to the CEO of Binance Changpeng Zhao, Binance, with its plethora of expertise, technology, and opportunities, will contribute to the growth of Kazakhstan’s digital assets market and provide a stronger boost for the country’s further establishment as the region’s crypto center.
“Kazakhstan has shown to be a pioneer in Central Asia crypto adoption and regulation.This further signifies Binance’s commitment to being a compliance-first exchange and providing products and services in a safe and well-regulated environment across the globe,” said Zhao.
As an independent regulator of the AIFC that supervises digital asset operations in Kazakhstan and the wider CIS area, AFSA has assisted the AIFC in establishing itself as the main regional platform for the development of digital asset-based services.