Crypto-exchange Bybit received approval from the authorities to work in Kazakhstan
Crypto-exchange Bybit received approval from Kazakh authorities to provide services related to cryptocurrencies
The platform calls the republic a "gateway" to the CIS, a region with great potential for the development of the crypto industry
Crypto-exchange Bybit announced that it has received preliminary approval from the Astana Financial Services Authority (AFSA)
Bybit offers access to 312 cryptocurrencies and 393 trading pairs. The trading volume on it in the last 24 hours amounted to $565 million.
In mid-April, the platform announced that it was tightening customer verification requirements. Platform users who haven't verified their identity by May 8 can now only close existing positions, refund credits and withdraw funds.
Under Bybit's "in-principle" authorization, the company must meet prerequisites before it will receive permanent approval to operate.
Bybit sees Kazakhstan as a "gateway" to the CIS and believes in the "promising potential" of the crypto industry in the region. Therefore, the exchange intends to offer its services to clients in Kazakhstan, and then in other CIS countries.
Last October, the cryptocurrency exchange Binance received a permanent license from AFSA. In addition, Changpeng Zhao's platform is launching an educational course on blockchain in universities in Kazakhstan.
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