Kazakhstan: Bitfinex security token program goes live

March 1, 2022



Important global virtual currency exchange Bitfinex is eventually starting with its Security Token Platform (STO) in Kazakhstan by opening the brand new first day of trading. On the other hand, Bitcoin mining trading is receding. Bitfinex Securities, Bitfinex’s blockchain-based enterprise forum is officially beginning on Tuesday, the firm representatives declared. The new STO platform is governed within Kazakhstan’s national financial hub called the Astana International Financial Center, AIFC, this was announced in September 2021. Bitfinex Securities mainly regulates from a different financial zone in Kazakhstan, which has an autonomous court system. The forum is not accessible to residents of countries such as Canada and the United States.

As per the announcement, Bitfinex Securities is debuting marketing with the Blockstream Mining Note (BMN) which is a security token proposing authorized non-U.S. investors an alternative to mine or invest in Bitcoin mining stocks using the related hash price of BMN. Ardoino said that this underlines a suppressed demand among the officially recognised investors for the chance to attain disclosure to Bitcoin mining. He also said that the firm is on its way to working closely with the local regulators and firms striving to raise funds on the STO platform. As per the reports of last year, Kazakhstan was one of the world’s largest BTC mining counties in respect of hash rate distribution, housing above 18% of the universal BTC hash price, after the U.S.

Have a look at this- A recent tax plan proposal in Kazakhstan could wipe out crypto miners

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