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Bybit Receives "In-Principle" Approval to Operate as Digital Asset Trading Facility and Custody Services Provider in Kazakhstan

Bybit has received an "in-principle" approval from the Astana Financial Services Authority (AFSA) to operate as a digital asset trading facility and custody services provider in Kazakhstan. CEO Ben Zhou sees potential for the crypto industry in the Commonwealth of Independent States (CIS) region. Bybit has been expanding its services, including offering crypto lending and partnering with Mastercard for a new debit card. Kazakhstan is also making progress in the crypto space, with new regulations requiring 75% of crypto mining revenue to be sold through an exchange and the country collecting around $7 million in crypto taxes this year.

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