Bybit gets 'in-principle' approval to operate a digital asset trading facility and act as a custody services provider in Kazakhstan.
Cryptocurrency exchange Bybit continues the expansion of its operations after receiving “in-principle” approval from regulators in Kazakhstan.
On May 29, the exchange announced its pre-approval from Kazakhstan’s Astana Financial Services Authority to operate as a digital asset trading facility and as a custody services provider at the Astana International Financial Centre . Ben Zhou, the co-founder and CEO of Bybit said that he believes in the “promising potential” of the Commonwealth of Independent States as a region for growth in the crypto industry.
Zhou also stressed Bybit’s commitment to compliance with local regulations. This comes after Bybit was recently“It has always been our primary objective to operate our business in compliance with relevant rules and regulations." As it stands under the “in-principle” approval that was granted to Bybit, the company is subject to pre-conditions which will lead to permanent authorization to commence servicing locals after the application process is fully completed.
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