Binance and Kazakhstan have agreed to establish a regional headquarters in Kazakhstan. This is part of a partnership that will help develop crypto regulation in the area. This agreement is part of Binance’s global law enforcement training program.
To formalize their mutual interest in developing Kazakhstan’s digital asset market, Binance, a crypto exchange, signed an agreement with Kazakhstan’s Financial Monitoring Agency.
The “memorandum” expresses mutual support for the development of crypto asset and data circulation, as well as the targeting of illicit trade.
“Binance plans to expand its Kazakhstani Office, “Kazakh President Kassym Jomart Tokayev stated in a plenary meeting last Wednesday.
He said that the exchange intends to create a “hub” for the whole region.
In August, Binance was granted authorization by the Astana Financial Services Authority to operate in Kazakhstan. CZ and other Kazakh leaders met in May to sign an agreement between Binance and the Ministry of Digital Development of Kazakhstan.
These developments in Kazakhstan are part of Binance’s larger global law enforcement program to link up international and local financial authorities to “fight against cyber and financial crime globally,” CZ stated in a Tweet announcing the news.
As Binance continues to search for approval and registration in other countries, the training program has been completed in France and Germany.