- In August, the AFSA of Astana gave the exchange its preliminary green light.
- Data will be shared in regard to the detection and freezing of ill-gotten cryptocurrency.
The likelihood of Kazakhstan being the next nation to legalize cryptocurrency has lately increased. Binance, one of the most well-known cryptocurrency exchanges, may be providing assistance to the government in its cryptocurrency effort.
The Agency of the Republic of Kazakhstan for Financial Monitoring and Binance signed a Memorandum of Understanding [MoU] earlier today. The parties’ goal with this new agreement is to work together to increase the availability of cryptocurrency in the region. Moreover, it is anticipated that data will be shared, especially in regard to the detection and freezing of ill-gotten cryptocurrency.
Global Expansion on the Cards
Binance CEO Changpeng Zhao said that the exchange’s commitment to a worldwide law enforcement education initiative was behind the signing of the MoU. From what CZ has said, the platform will be used to fight cyber and financial crimes all around the world.
Today #Binance signed an MoU with the Agency of the Republic of Kazakhstan for Financial Monitoring🇰🇿
The signing took place as part of the implementation of our global law enforcement training program, as we fight together against cyber and financial crimes globally. https://t.co/l29rNDv571
— CZ 🔶 Binance (@cz_binance) October 3, 2022
To add, the Binance Law Enforcement Training Program has already been implemented in many other countries. France, Germany, Italy, the United Kingdom, Norway, Canada, Brazil, Paraguay, and Israel were among those countries.
Binance has already established a presence in the Kazakhstan market. In the previous several months, the two countries—Kazakhstan and the exchange—have been often featured in the media. In August, the AFSA of Astana gave the exchange its preliminary green light to begin trading in the country.
The company has previously agreed to work with the Kazakh Ministry of Digital Development, Innovations, and the Aerospace Industry by signing a Memorandum of Understanding. Binance hoped this would aid the government in developing appropriate crypto market rules.
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