This step brings making Binance closer to becoming the first Digital Asset Trading Facility (DTAF) to obtain a full operating licence in Kazakhstan.

In the process of obtaining regulatory approval, the blockchain firm has undergone an external financial audit, internal audits, and regulatory inspections to ensure that they will operate under compliance.

AFSA also evaluated Binance Kazakhstan to test the reliability of their systems and cybersecurity protocols. Under a full licence, the firm will be able to trade, deal investments, and offer custody services for digital assets.

Vishal Sacheendran, head of regional markets at Binance, commented: "We are very much delighted to receive this formal way of pre-approval from AFSA before we get our full regulatory licence. This achievement reflects our dedication to maintaining the highest standards of compliance, security, and operational excellence. We look forward to getting the full licence and continuing to serve our users in Kazakhstan and contributing to the growth of the local digital asset ecosystem."

In August 2024, Binance registered in India, with India’s Financial Intelligence Unit.