Binance Signs Memorandum of Understanding with Kazakhstan
On Wednesday. Binance announced it signed a Memorandum of Undertaking (MoU) with the Ministry of Digital Development, Innovations, and Aerospace Industry of the Republic of Kazakhstan.
Within the agreement, the parties voiced interest in developing Kazakhstan’s virtual asset market.
According to the announcement, Binance CEO CZ visited Kazakhstan and met with Kazakhstan President Kassym-Jomart Tokayev and other ministers.
The agreement will give Binance an advisory role in developing a legislative and regulatory framework for crypto assets. The announcement went on to say that the Ministry of Digital Development, Innovations and Aerospace Industry and Binance will explore opportunities to,
“Integrate banking infrastructure within the cryptocurrency market and facilitate the development and implementation of distributed ledger technology.”
Minister of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan Bagdat Musin said,
“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.”
Changpeng Zhao (CZ), founder and CEO of Binance, said,
“Growing crypto adoption around the world, to have a positive impact on society as a whole, is one of our primary goals. Kazakhstan is one of the world leaders in the crypto mining industry. The country was one of the first to introduce the legalization of mining.”
“We believe that, in full cooperation with the local authorities, Binance can make a great contribution to the development of the local crypto community and blockchain ecosystem in Kazakhstan.”