Binance, a major cryptocurrency exchange, announced on Wednesday that it had signed a Memorandum of Understanding (MoU ) with the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan.
According to the press release, both parties highlighted the importance of cryptocurrency development in the country. Changpeng Zhao’ CZ’, the CEO of Binance, signed the MoU during his visit to Kazakhstan. On 25 May, CZ visited Kazakhstan and met with Kassym-Zhomart Tokayev; Timur Suleimenov, the First Deputy Chief of Staff of the President of Kazakhstan; and Bagdat Musin, the Minister of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan.
“As a global leader among crypto exchanges, Binance takes responsibility for the whole ecosystem. Together with CZ, we considered the Binance roadmap in Kazakhstan. We also discussed the potential of creating a blockchain-oriented VC-fund and academy to help local talents from Astana Hub to go global. We really believe Kazakhstan can become a regional hub for international players in the crypto world,” Musin commented.
Binance will assist in establishing a legislative framework and a regulatory policy for crypto-assets in Kazakhstan. A cooperation agreement between Binance and the Ministry of Digital Development, Innovations and Aerospace Industry of Kazakhstan also calls for the integration of banking infrastructure within the cryptocurrency market and the development of distributed ledger technology.
Astana Hub is supported by the Ministry of Economy and Binance, which will help develop the region’s blockchain ecosystem.
Binance in France
Early this month, Binance France was granted a Digital Asset Service Provider (DASP) registration by the Autorité des marchés financiers (AMF) with the approval of the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
The AMF regulates and protects the French financial markets and ensures investors’ financial literacy. The ACPR is an independent agency that monitors banks and insurance companies in France. Under the supervision of AMF and ACPR, Binance France will be able to operate in France with the DASP registration.
