The Government Of Kazakhstan Expands Cooperation With Binance

On August 15, it was revealed that the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market approved Binance to operate a digital asset platform and provide custodial services at the Astana International Financial Centre.

Important to mention that this is the first time a government agency has issued such permission for Binance in the CIS.

As a result, the exchange only has to provide the regulator with a complete package of documents, and that’s it – Binance can carry out the specified activities. Providing documents will be accomplished shortly.

It’s unlikely that there will be any problems with it, for Kazakhstan is the leader in the adoption and regulation of cryptocurrency among Central Asia countries.

How exactly did they achieve such an agreement?

In late May, the President of Kazakhstan, Tokayev, met with Changpeng Zhao (Binance founder), and they discussed the prospects for long-term cooperation.

In June, they announced the integration with the cryptocurrency exchange and in July, they released a new law on taxation for miners.