Binance and Bybit Receive Cryptocurrency Trading License Approved in Kazakhstan

Cryptocurrency exchanges Binance and Bybit have entered the Kazakhstan market.
On the 9th (local time), Binance and Bybit announced that they would launch a cryptocurrency exchange in Astana, Kazakhstan.
It became the first cryptocurrency trading facility to be granted a full Digital Asset Trading Facility (DATF) license by the Australian Financial Services Authority (AFSA).
AFSA is the regulatory body for the Astana International Financial Centre (AIFC) special economic zone in Kazakhstan.
Once a formal license is issued, the exchange will be able to offer investment services, advanced trading and asset management services.
Kazakhstan is one of the main destinations for cryptocurrency miners and is set to become China's largest cryptocurrency miner destination in 2021.
The influx of new miners comes after the country cracked down on crypto mining. Kazakhstan's miners are a source of tax revenue for the government but are plagued by power consumption issues.