Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce that it has been granted a full license by the Astana Financial Service Authority (AFSA).
This significant milestone enables Bybit to operate as a fully authorized market institution in Kazakhstan, marking another step in the company’s global expansion.

Under full authorization from AFSA, Bybit Kazakhstan will offer a comprehensive range of services, including operating a digital asset trading facility, providing custody, dealing in investments as both an agent and principal, and managing investments. Bybit’s new licensing opens many opportunities for users in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.

"Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market," said Ben Zhou, co-founder and CEO of Bybit. "With this full license, we are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry."

With this license, Bybit Kazakhstan will now offer various products, including spot and derivatives trading, margin trading, and crypto loans. The Bybit Kazakhstan website, under the domain “bybit.kz,” is scheduled to launch in mid-October 2024. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.

This new chapter for Bybit in Kazakhstan solidifies the company's commitment to fostering innovation and growth within the global cryptocurrency landscape. With a fully regulated platform, Bybit is poised to deliver enhanced services that meet the highest standards of compliance and security. Bybit looks forward to building strong relationships with traders in Kazakhstan and across the CIS region, empowering them to navigate the dynamic world of digital assets with confidence.

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Dubai's Virtual Assets Regulatory Authority (VARA) has announced new marketing guidelines for firms promoting virtual assets.

The updated requirements, which will go into effect on October 1, 2024, require companies to provide potential customers with clear warnings about the risks associated with cryptocurrencies.

To do this, each advertisement must contain a disclaimer, text that states that digital assets “may lose some or all of their value” because they are subject to “excessive volatility.” It is important that this information is clearly legible and prominently displayed in the advertisement.

This marketing ploy will ensure that potential investors are aware of the risks before they decide to invest in cryptocurrencies, Dubai regulators believe.

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Telegram Wallet will be temporarily restricted for UK users due to a corporate restructuring, the popular messenger said in an announcement.

The company said it is currently in the process of registering as a cryptocurrency asset provider under the current rules of the UK Financial Conduct Authority (FCA). Therefore, until Telegram receives the appropriate licenses from regulators, UK residents will not be able to use the built-in crypto wallet features. However, during this time, they will be able to withdraw funds to other addresses without fees.

The changes in the policy and features of the popular messenger will affect all its users. Recently, Telegram representatives announced that they will begin to transfer user data to law enforcement agencies in the event of a “reasonable legal request” from the authorities. We are talking about phone numbers and IP addresses.

Such radical changes have raised concerns about the protection of users' confidential data and the fight against censorship. However, the founder of the messenger Pavel Durov assured that the innovations should protect the platform from fraud.

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