Crypto OTC trading to get traction due to FTX fiasco, exec says
Before the rise of centralized exchanges (CEXs), over-the-counter (OTC) trading was the go-to method to buy or sell cryptocurrency for many crypto investors. The FTX collapse could trigger a bigger demand for crypto OTC services as investors are looking for alternative methods to convert from and to fiat due to weaker trust in CEXs. Cointelegraph […]
Kazakhstan central bank recommends a phased CBDC rollout between 2023-25
Kazakhstan, the world’s third-largest Bitcoin (BTC) mining hub after the United States and China, found feasibility in launching its in-house central bank digital currency (CBDC), a digital tenge. The National Bank of Kazakhstan (NBK) revealed the finding following the completion of the second phase of testing. In late October, Binance CEO Changpeng’ CZ’ Zhao announced […]
Kazakhstan to build central bank digital currency on BNB Chain
In an announcement on Twitter, Changpeng Zhao, the founder and CEO of Binance, said the network will be a major component of Kazakhstan’s latest Web3 endeavor. The Binance founder tweeted that the National Bank of Kazakhstan (NBK) will integrate its central bank digital currency (CBDC), the digital tenge, on the BNB Chain, the underlying blockchain of […]
Kazakhstan among top 3 Bitcoin mining destinations after US and China
For over a year, the oil-rich Central Asian country of Kazakhstan has maintained its position as the third-biggest contributor to Bitcoin (BTC) mining after surpassing Russia back in February 2021. As of January 2022, Kazakhstan contributed to 13.22% of the total Bitcoin hash rate, positioned right after the historical leaders the United States (37.84%) and […]
Russian users are welcomed by crypto exchanges in Kazakhstan, but there’s a catch
Some cryptocurrency exchanges continue onboarding Russian nationals despite the latest Western sanctions against Russia, but not without certain restrictions. In late September, Kazakhstan’s President Kassym-Jomart Tokayev witnessed the nation’s first regulated fiat-to-crypto purchase by a local commercial bank, the Eurasian Bank. The transaction involved a local crypto exchange called Intebix, which allows retail clients to […]
Kazakhstan grants Binance permanent license to offer digital asset services
After a build-up of multiple memorandums of understanding (MoU) and an initial “in-principle” approval to operate in Kazakhstan, Binance received a permanent license to operate in the country. As of Oct. 6, the Republic of Kazakhstan’s AIFC Financial Services Authority (AFSA) granted the permanent license to both manage a digital asset platform and provide custody […]
Binance signs MoU with Kazakhstan to fight financial crime
Global cryptocurrency exchange Binance has signed a memorandum of understanding (MoU) with the Financial Monitoring Agency of the Republic of Kazakhstan as a part of its global law enforcement training program. The program, which involves officials from regulatory and law enforcement organizations worldwide, aims to strengthen industry cooperation with national and international law enforcement in […]