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Putin Reveals Over 85% of CIS Trade Now in National Currencies

Bitcoin.com
Putin Reveals Over 85% of CIS Trade Now in National Currencies
Armenia
Putin Reveals Over 85% of CIS Trade Now in National CurrenciesRussian President Vladimir Putin announced that more than 85% of trade within the Commonwealth of Independent States (CIS) is now conducted in national currencies, highlighting a move toward greater financial independence. This development is part of broader efforts by CIS countries to reduce reliance on foreign economic systems, particularly imports, and to build resilient financial […]
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Institutional Crypto Products See ,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Binance Secures Regulatory License in Kazakhstan for Crypto Trading

Bitcoin.com
Binance Secures Regulatory License in Kazakhstan for Crypto Trading
AFSA
Binance Secures Regulatory License in Kazakhstan for Crypto TradingBinance Kazakhstan has secured a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority. This approval allows the crypto exchange to operate as a trading platform, broker-dealer, and digital asset custodian. Kazakhstan becomes the first Central Asian country where Binance has regulatory approval, positioning it as a key fintech hub. Binance […]
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Institutional Crypto Products See ,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Bybit Expands in CIS Region With Kazakhstan License for Crypto Services

Bitcoin.com
Bybit Expands in CIS Region With Kazakhstan License for Crypto Services
AFSA
Bybit Expands in CIS Region With Kazakhstan License for Crypto ServicesCrypto exchange Bybit has secured a major license in Kazakhstan, marking its expansion in the Commonwealth of Independent States (CIS) region. With its new regulatory approval, Bybit plans to offer a broad range of services including digital asset trading and crypto loans, while emphasizing Kazakhstan’s growing influence in the global crypto ecosystem. Bybit Secures Key […]
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Institutional Crypto Products See ,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Binance Kazakhstan Receives Formal Consent for Regulatory License

Bitcoin.com
Binance Kazakhstan Receives Formal Consent for Regulatory License
AIFC
Binance Kazakhstan Receives Formal Consent for Regulatory LicenseBinance Kazakhstan received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license, marking a major step toward becoming Kazakhstan’s first fully regulated Digital Asset Trading Facility (DATF). The approval followed rigorous evaluations, including financial audits and ISO certifications. Once licensed, Binance will manage virtual assets, offer custody services, and conduct […]
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Institutional Crypto Products See ,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Turkey Seeks to Join BRICS to Strengthen Global Influence

Bitcoin.com
Turkey Seeks to Join BRICS to Strengthen Global Influence
alliances
Turkey Seeks to Join BRICS to Strengthen Global InfluenceTurkey has reportedly formally requested to join the BRICS economic bloc to expand its global influence and establish new alliances beyond its traditional Western partners. Turkish President Recep Tayyip Erdogan’s administration views the shifting geopolitical landscape as an opportunity to strengthen ties with both Eastern and Western nations while remaining committed to NATO. Erdogan emphasized […]
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Institutional Crypto Products See ,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

China and Kazakhstan Sign CBDC Collaboration Agreement

Bitcoin.com
China and Kazakhstan Sign CBDC Collaboration Agreement
bitcoin.com
China and Kazakhstan Sign CBDC Collaboration AgreementThe People’s Bank of China and the National Bank of Kazakhstan have signed an agreement to collaborate on central bank digital currencies (CBDCs). This collaboration agreement, formalized during President Xi Jinping’s visit to Kazakhstan, aims to enhance CBDC research through joint initiatives and professional development. China and Kazakhstan to Collaborate on Central Bank Digital Currencies […]
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Institutional Crypto Products See ,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

CZ must stay, Do Kwon to be extradited: Law Decoded

Coin Telegraph
CZ must stay, Do Kwon to be extradited: Law Decoded
Binance

A Seattle district court ruled out CZ’s departure to the UAE, and the Montenegrin justice minister plans to grant the United States request for Do Kwon’s extradition.

Binance founder Changpeng “CZ” Zhao has been ordered to stay in the United States until his sentencing in February 2024, with a federal judge determining there’s too much of a flight risk if the former exchange CEO is allowed to return to the United Arab Emirates. Seattle district court Judge Richard Jones wrote in his order:

“The defendant has enormous wealth and property abroad, and no ties to the United States [...] His family resides in the UAE and it appears that he has favored status in the UAE. Under these circumstances, the Court finds that the defendant has not established by clear and convincing evidence that he is not likely to flee if he returns to the UAE.”

Jones accepted Zhao’s guilty plea to one count of Bank Secrecy Act violations, which the Binance founder submitted over two weeks ago on Nov. 21 alongside a $4.3 billion settlement with U.S. agencies. Now, the ex-CEO of Binance faces up to 18 months in prison.

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Institutional Crypto Products See ,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Kazakhstan blocked 980 non-licensed crypto exchanges in 2023

Coin Telegraph
Kazakhstan blocked 980 non-licensed crypto exchanges in 2023
Binance

The Financial Monitoring Agency has also launched nine investigations into “illegal exchange operations” and money laundering.

This year, Kazakhstan’s Financial Monitoring Agency (AFM) blocked access to almost a thousand crypto exchanges that were serving the country’s citizens without proper registration. 

According to the press release from Dec. 7, published on the government’s website, the AFM denied access to 980 illegal platforms in 2023. It also launched nine investigations into “illegal exchange operations” and money laundering. This information was revealed by the chairman of the AFM, Ruslan Ostroumov, during the meeting of the Eurasian Group on Combating Money Laundering in China.

Related: Kazakhstan officially launches digital tenge

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Institutional Crypto Products See ,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Kazakhstan officially launches digital tenge

Coin Telegraph
Kazakhstan officially launches digital tenge
CBDC

The chairman of the National Payment Corporation has made the first transaction with the central bank digital currency.

The chairman of Kazakhstan’s National Payment Corporation (NPC), Binur Zhalenov, has made the first transaction with the country’s new central bank digital currency (CBDC), the digital tenge. During his speech at the XI Congress of Finance in Almaty on Nov. 15, he paid with a debit card tied to the CBDC account, according to local outlet, Kapital.kz. 

Zhalenov unveiled the official launch of the digital tenge on Kazakhstan’s retail market today, promising the “massive platform’s development” in 2024. According to the official, Kazakhstan collaborated with Visa and Mastercard, as well as the local banks, to integrate the CBDC into plastic cards:

“It lets you pay with a digital tenge from anywhere in the world, using Apple Pay, Samsung Pay and other gadgets.”

Zhalenov has also highlighted the “programmable” potential of the digital tenge, which could be used in smart contracts, innovative financial services, and digital asset transactions. Next year, he said, the CBDC development will focus on offline payments, and by 2025, the NPC expects to adopt the digital tenge in cross-border trade. 

Related: Binance launches regulated platform in Kazakhstan amid troubles in the West

Development of the digital tenge started in February 2023, with an initial launch deadline set for 2025. The NPC itself was established only in September to lead the development and implementation of the CBDC.

In parallel with the swift CBDC rollout, Kazakh authorities have tightened their scrutiny over the crypto market. In September, local media noticed problems accessing Coinbase, Kraken and other major international crypto exchanges without a local license. In October, local crypto mining operators signed an open letter to the president of the Republic, Kassym-Jomart Tokayev, asking to cut the newly introduced tax rates on their activities.

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Institutional Crypto Products See ,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Kazakhstan’s authorities confirm they blocked access to Coinbase: Report

Coin Telegraph
Kazakhstan’s authorities confirm they blocked access to Coinbase: Report
Asia

The authorities cited the Law on Digital Assets, enacted in February 2023, that forbids the issuance and trading of digital currencies and the crypto exchange operation without a national license, according to reports.

The Ministry of Culture and Information of Kazakhstan has officially confirmed they have blocked the Coinbase website in the country. The authorities of Kazakhstan have been blocking local IPs' access to Coinbase since September at least.  

According to a Nov. 7 report from a local news outlet, Kursiv, access to the Coinbase website was blocked by an order of the Ministry of Culture and Information. Ministry representatives explained to journalists that the request came from a different government body, the Ministry of Digital Development, which accused Coinbase of violating the Law on Digital Assets.

The Law on Digital Assets, enacted in February 2023, bans the issuance and trading of digital currencies and the crypto exchange operation without a national license. The in-principal approval to operate is granted by the authority of the Astana International Financial Center (AIFC), a special economic zone of Kazakhstan.

Related: Kazakhstan establishes regulatory agency to implement CBDC

So far, Binance, Bybit, CaspianEx, Biteeu, ATAIX, Upbit and Xignal&MT have been approved by the AIFC Financial Services Authority.

The first reports about the problems with accessing the Coinbase website appeared in September, when the local Telegram media Finance. kz wrote that the “great Kazakh investment firewall” blocks access not only to Coinbase but also to Kraken and other major international crypto exchanges.

Kazakhstan has taken a stringent regulatory approach to crypto, including around its mining sector which is one of the largest in the world. In October, eight major cryptocurrency mining operators signed an open letter to President Kassym-Jomart Tokayev, claiming ​​that the crypto-mining industry is in a “very distressful situation” because of high energy prices for miners.

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Institutional Crypto Products See ,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

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