Binance signs an agreement with Kazakhstan and plans to establish a regional hub

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Last Updated on October 4, 2022 by Bitfinsider

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

The ‘memorandum of agrement’ expresses mutual support for the development of crypto asset and data circulation, as well as the suppression of illicit trade.

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

The Astana Financial Services Authority granted Binance permission to operate in the country in August. In May, Binance CEO CZ met with President Kassym-Zhomart Tokayev and other top Kazakh officials and signed an agreement with Kazakhstan’s Ministry of Digital Development.

The developments in Kazakhstan are part of Binance’s larger global law enforcement training program, which aims to connect local and international financial authorities in order to “fight together against cyber and financial crimes globally,” according to CZ in a tweet announcing the news.

As Binance continues to seek approval and registration in countries around the world, the training program has already been completed in France, Germany, Italy, the United Kingdom, Norway, Canada, Brazil, Paraguay, and Israel.

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