Cryptocurrency exchange Bybit has received an in-principle approval to work in Kazakhstan, a jurisdiction increasingly seen by crypto companies as a gateway to the former-Soviet space. The trading platform wants to expand its presence in the region and other emerging markets.
Bybit on Route to Winning Kazakhstan Crypto License
Singapore-based Bybit, one of the world’s leading crypto spot exchanges, is now a step closer to becoming a licensed crypto operator in Kazakhstan. On Tuesday, the company announced it has obtained in-principle approval from the Astana Financial Services Authority (AFSA).
“The in-principle approval subjects Bybit to pre-conditions leading to permanent authorization upon Bybit’s completion of the full application process,” a press release explained. When licensed, it will be able to operate as a digital asset exchange and custody service provider.
AFSA is the regulatory body overseeing the Astana International Financial Centre (AIFC), Kazakhstan’s financ
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