Bybit Acquires Full Cryptocurrency License In Kazakhstan

The Kazakhstan Astana Financial Service Authority (AFSA) has issued a full license to crypto exchange Bybit, allowing it to operate within the country. This decision came shortly after AFSA provided the exchange with consent to full authorization on September 6th, positioning it as the first regulated Digital Asset Trading Facility (DATF) in the country.

Full Authorization In Kazakhstan
A press release dated September 27th indicated that the aforementioned full license establishes Bybit as a regulated market entity in Kazakhstan, representing a major step for the exchange and its global expansion strategy.

Bybit announced that the license enables its local entity to offer a wide array of crypto services, including a trading platform via the domain bybit.kz and investment management services as both an agent and a principal.

Set to launch in mid-October, this domain will also facilitate spot and derivatives trading, margin trading, and digital asset loan services for users in Kazakhstan and the wider Commonwealth of Independent States (CIS) region.

Renewed Enthusiasm

Bybit founder and CEO, Ben Zhou, expressed enthusiasm about this achievement, highlighting the exciting opportunity to tap into the vibrant Kazakhstani crypto market. With this full license, we are dedicated to delivering our advanced technology, security, and transparency to crypto traders in Kazakhstan, ensuring they have access to top-notch tools and services to excel in this rapidly evolving industry, Zhou commented.
The announcement also marks a significant milestone for Bybit, reinforcing its commitment to promoting growth and innovation in the global crypto landscape. Other exchanges, including Binance, are also planning to expand into Kazakhstan, having secured their own consent for full authorization on September 6th.