Binance has launched a regulated digital asset platform in Kazakhstan – just days after the crypto firm exited the Dutch market.
The launch of Binance Kazakhstan was officially announced on June 20, 2023, with the presence of government and banking industry representatives. The platform will offer various services, including exchange and conversion, fiat deposits and withdrawals, crypto custody, and exchange trading. Bank cards and bank transfer will be the available payment methods, facilitated through the Freedom Finance Bank.
The Vice Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, Asset Turysov, praised Binance’s role in the development of the local crypto industry, mentioning the establishment of a legislative framework for crypto regulation.
Despite the local platform’s launch, users in Kazakhstan will still be able to use the global Binance.com.
The news of Binance’s launch in Kazakhstan comes shortly after the company was sued by the US Securities and Exchanges Commission (SEC) and announced its exit from the Canadian market due to regulatory constraints.
