Toncoin has received regulatory approval to trade in Kazakhstan

Kazakhstan's Financial Services and Regulatory Committee (AFSA) has approved Toncoin (TON) for trading on regulated exchanges after conducting an audit of the digital asset's compliance with the financial regulator's detailed criteria.

Toncoin now joins the list of 107 cryptocurrencies approved by the government of Kazakhstan, including TRON (TRX), Polygon (MATIC), Aptos (APT), Stellar (XLM), Avalanche (AVAX) and Digital Assets. The main ones are Bitcoin (BTC) and Ether (ETH).

Open network gaming ecosystem and the developing world

Open networking and its native assets have emerged as popular choices for transferring value in the developing world. Open Network Telegram's user base is over 800 million daily active users and the messaging system uses minimal apps and in-app payments. According to TGStat data, Telegram boasts 55 million active users in Kazakhstan.

Blockchain gaming continues to be an integral part of the Ton ecosystem, with games like HamsterCombat, NoteCoin, YesCoin, and TonPotato capturing the time and attention of users looking to earn extra income.

Related: Telegram & Crypto: Bitgate Launches $20M TON Ecosystem Fund

Hamster Kombat in particular has grabbed headlines, and the game's growing popularity has led to warnings and criticism from government officials. Recently, the National Agency for Visual Projects (NAPP) of Uzbekistan, the regulator of online trade and digital commerce, issued a warning message to people who want to use the game's token.

Since the government regulator Hamster Combat Tokens are not onchain digital assets, the tokens are not in the regulator. Playing the game has not been banned in the country yet.

However, NAPP warned citizens that because the tokens could be migrated on-chain in the future, thus becoming real digital assets, mining the coins could be problematic.

Not all is smooth sailing

Although the Toon ecosystem is growing, the network has no problems, according to SlowMist founder Yu Xian.

Xian, a blockchain security expert, said phishing attacks on the Open Network are on the rise as the network's fast decentralized blockchain platform expands.

These phishing attacks are mainly caused by hackers integrating Ton with the underlying Telegram messaging app to create groups and post malicious links, Xian said.

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