The cryptocurrency exchange Bybit has received an in-principle approval to operate in Kazakhstan from AFSA.
After completing the full application process, the company will be able to operate a digital asset trading platform and provide depository services at the Astana International Financial Centre (AIFC).
Co-founder and CEO Ben Zhou pointed to the “promising potential” for the crypto industry in the CIS. He also stressed the exchange’s commitment to complying with local rules.
On June 7, Bybit received a license to operate a digital asset trading facility and provide custody of assets from AFSA.
Bybit has officially gained the digital asset trading facility and custody license from AFSA Kazakhstan. With this license Bybit will grow our influence and impact in the CIS and nearby regions. pic.twitter.com/VEQrhJQC01
— Ben Zhou (@benbybit) June 7, 2023
In April, the Japanese regulator warned about absence of a license for Bybit.
Since 8 May, the exchange has introduced mandatory verification for all platform users.