Binance has announced that its Kazakhstan branch has received a full Digital Asset Trading Facility (DATF) license. This approval allows Binance to operate a trading platform, offer broker-dealer services, and provide custody for digital assets.
According to Binance, the Kazakhstan branch obtained its DATF license after undergoing a thorough review process by the Astana Financial Services Authority (AFSA). This included external financial audits, ISO certifications, and multiple audits to ensure compliance with various regulatory standards such as the AIFC Digital Asset Activities, anti-money laundering laws, and cybersecurity protocols. Kazakhstan is emerging as a growing hub for digital asset trading within a regulated framework.
Vishal Sacheendran, head of regional markets at Binance, said: "By 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."
AFSA was established in January 2018 as an independent regulator for Kazakhstan's Astana International Financial Centre (AIFC). It oversees the financial, non-financial, and capital markets activities of participants operating within the AIFC.
Binance operates as a major global blockchain platform featuring the largest digital asset exchange by trading volume. The company offers a wide range of financial products and services and is known for its comprehensive ecosystem that includes educational resources, research initiatives, charitable efforts, and an NFT marketplace. In 2022, Binance reported significant activity with an average daily trading volume of $65 billion and 300 billion spot transactions.