Binance intends to establish a regional office in Kazakhstan and is attempting to co-enterprise cryptocurrency legislation

Binance intends to establish a regional office in Kazakhstan and is attempting to co-enterprise cryp ...

Kazakhstan''s financial monitoring agency hopes to provide insight on the structure of cryptocurrency transactions in the region. Both entities intend to target illicit activities around the virtual digital assets (VDAs) sector, according to The Block. Kazakhstan will maintain Binance''s regional headquarters and work on co-creating crypto regulations in the region.

Binance''s crypto education and training program will be expanded in large part by Kazakhstan, which houses a large number of crypto miners.

Binance will connect police officers in different parts of the world to Web3 professionals who will conduct training on strategies to combat potential crypto crimes as well as strategies to deal with aftermath.

Binance, which hopes to become the world''s most licensed crypto exchange, entered the Kazakhstan market just two months ago, in August.

The Astana Financial Services Authority has granted the appropriate licenses to the business.

Back in May, Binance CEO Changpeng Zhao had met Kazakhstan president Kassym-Zhomart Tokayev.

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At the time, the exchange giant had also signed a treaty with the Ministry of Digital Development of Kazakhstan to facilitate the Web3 expansion.

Zhao has shared his passion for the development with his seven million Twitter followers.

#Binance has signed a financial monitoring protocol with the Agency of the Republic of Kazakhstan:flag-kz, which was signed as part of our worldwide law enforcement training program, as we fight together against cyber and financial crimes globally.

Binance is also working on establishing a special economic zone, powered by the cryptocurrency sector. This crypto hub in Nigeria will make for the only such entity to exist in all of West Africa. This initiative is also being supported by the Nigeria Export Processing Zones Authority (NEPZA).