Binance signs agreement with Kazakhstan and plans regional hub

Quick Take

  • Kazakhstan is set to host Binance’s regional headquarters, as the pair finalize a partnership to develop crypto regulation in the region.
  • The agreement is part of Binance’s training program for global law enforcement.

Crypto exchange Binance signed an agreement with Kazakhstan’s Financial Monitoring Agency to formalize their shared interest in developing the digital asset market in the country. 

The ‘memorandum of agreement’ expresses mutual support in developing cryptoasset and data circulation as well as targeting illicit trade.

Binance “plans to expand its Kazakhstani office”, Kazakh President Kassym-Jomart Tokayev said in a plenary discussion last Wednesday, explaining that the exchange plans to build a “hub for the entire region.”

Binance received authorization to operate in the country in August from the Astana Financial Services Authority. The exchange giant also signed an agreement with the Ministry of Digital Development of Kazakhstan in May when Binance CEO CZ met with President Kassym-Zhomart Tokayev and other top Kazakh officials. 

The developments in Kazakhstan are part of Binance’s wider global law enforcement training program to link up local and international financial authorities to “fight together against cyber and financial crimes globally,” as CZ said in a tweet announcing of the news.

The training program is already completed in France, Germany, Italy, the UK, Norway, Canada, Brazil, Paraguay and Israel, as Binance continues to seek approval and registration in countries worldwide.

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