Toncoin receives regulatory approval for trading in Kazakhstan

Kazakhstan’s Financial Services and Regulatory Committee (AFSA) has approved Toncoin (TON) for trading on regulated exchanges after conducting an audit that confirmed the digital asset meets the regulator’s listing criteria.

Toncoin now joins a list of 107 cryptocurrencies approved by the Kazakh government, including TRON (TRX), Polygon (MATIC), Aptos (APT), Stellar (XLM), Avalanche (AVAX), as well as major assets Bitcoin (BTC) and Ether (ETH).

The Open Network and its native asset, TON, are gaining popularity as preferred options for value transfer in developing regions. Leveraging Telegram’s vast user base of 800 million daily active users, The Open Network facilitates Mini Apps and in-app payments. Telegram boasts 55 million active users within Kazakhstan, according to TGStat data.

In the TON ecosystem, blockchain gaming plays a pivotal role with games like Hamster Kombat, Notcoin, Yescoin, and TonPotato capturing the interest of users looking to earn extra income.

Hamster Kombat, in particular, has garnered attention, prompting warnings and criticism from government officials. Recently, Uzbekistan’s National Agency for Perspective Projects (NAPP) issued a cautionary statement regarding the game’s token, noting that since Hamster Kombat’s tokens are not onchain digital assets, they fall outside the regulator’s oversight. While playing the game remains legal in the country, the NAPP cautioned citizens that if the tokens migrate onchain in the future, facilitating their withdrawal may pose challenges.