​Crypto Exchange By bit Granted In-principle Approval to Opera | Crypto Shake

​Crypto Exchange By bit Granted In-principle Approval to Operate in Kazakhstan

Cryptocurrency exchange Bybit has received an in-principle approval to work in Kazakhstan, a jurisdiction increasingly seen by crypto companies as a gateway to the former-Soviet space. The trading platform wants to expand its presence in the region and other emerging markets.

“The in-principle approval subjects Bybit to pre-conditions leading to permanent authorization upon Bybit’s completion of the full application process,” a press release explained.

Bybit noted that Kazakhstan is a gateway to the Commonwealth of Independent States (CIS), a regional organization uniting several former-Soviet states. The exchange believes this is a fast-growing market which is rapidly embracing cryptocurrencies and related activities such as mining and blockchain development.