"Still enthusiastic, Binance is not weak despite facing many challenges."
Cryptocurrency giant Binance has launched its digital asset trading platform in Kazakhstan after receiving a permanent license from the AIFC Financial Services Authority (AFSA) last year.
It is well known that the Chief Executive Officer (CEO) of Binance Changpeng Zhao (CZ) who visited the President of Kazakhstan Kassym-Jomart Kemeluly Tokayev in October 2022 has signed a Memorandum of Understanding (MoU) to help foster digital innovation in the country.
According to Binance, the digital asset trading platform will focus on fiat exchange, deposit and withdrawal services including custody of crypto assets while its service network will be expanded in the long term.
Like to be informed that since last year the regulator in Kazakhstan has taken various important steps in developing the crypto market, said Asset Turysov, who is the Deputy Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan.
He added that Binance has assisted Kazakhstan in the development of a legal framework, a general policy for crypto regulation and the implementation of educational initiatives for the government, law enforcement agencies and regulators.
It is already known that Binance this month experienced various obstacles when the crypto exchange was subjected to legal action by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
However, Binance successfully expanding its services in Kazakhstan is one of the big wins for now after being forced to close its operations in Cyprus and the United Kingdom (UK).
