Insights: Toncoin (TON) Approved for Trading in Kazakhstan

The Financial Services and Regulatory Committee (AFSA) of Kazakhstan has given its approval for the trading of Toncoin (TON) on regulated exchanges. This decision comes after an audit that confirmed the digital asset’s compliance with the financial regulator’s listing criteria.

Toncoin has been added to the list of 107 cryptocurrencies approved by the government of Kazakhstan. This includes, but is not limited to, TRON, Polygon, Aptos, Stellar, Avalanche, and digital asset staples Bitcoin and Ether.

The Open Network, along with its native asset TON, is rapidly gaining traction as a preferred method for transferring value in developing regions.

By tapping into Telegram’s extensive user base of over 800 million daily active users, the Open Network is able to offer Mini Apps and in-app payments through its messaging system.

Notably, data from TGStat indicates that Telegram commands a user base of 55 million active users specifically within Kazakhstan.

Furthermore, within the TON ecosystem, blockchain gaming has emerged as a pivotal component, featuring games such as Hamster Kombat, Notcoin, Yescoin, and TonPotato, which are capturing the attention of users looking to generate supplemental income.

“Hamster Kombat” has garnered significant attention recently due to its surging popularity, drawing the scrutiny and criticism of government authorities.

A noteworthy development occurred when Uzbekistan’s National Agency for Perspective Projects (NAPP), an overseeing body for online business and digital commerce, issued a warning directed at individuals looking to leverage the game’s token.

The regulatory agency clarified that as Hamster Kombat’s tokens do not qualify as on-chain digital assets, they fall outside the purview of the regulator. Despite this, the game remains unimpeded by a ban within the country.

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