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Binance to help draft laws related to crypto in Kazakhstan

Binance to help draft laws related to crypto in Kazakhstan

Binance CEO Changpeng Zhao visited Kazakhstan on Wednesday and met with President of Kazakhstan Kassym-Zhomart Tokayev and other ministers

Changpeng Zhao is the CEO of Binance Changpeng Zhao is the CEO of Binance

Binance, the cryptocurrency exchange with the highest trading volume, announced on Wednesday the signing of an MoU with the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan. 

Binance CEO Changpeng Zhao visited Kazakhstan on Wednesday and met with President of Kazakhstan Kassym-Zhomart Tokayev and other ministers to talk about the prospects of crypto in the country.

After the meeting, the leaders decided that Binance would help advising the country on developing a legislative framework and regulatory policy for crypto-assets in the Republic of Kazakhstan. 

Under the cooperation agreement, the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan and Binance will also seek opportunities to integrate banking infrastructure within the cryptocurrency market and facilitate the development and implementation of distributed ledger technology. 

Furthermore, the Ministry and Binance will support Astana Hub among local and international talent, which will allow the creation of a regional blockchain hub.

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."

“Growing crypto adoption around the world, to have a positive impact on society as a whole, is one of our primary goals,” - said Changpeng Zhao (CZ), founder and CEO of Binance.  “Kazakhstan is one of the world leaders in the crypto mining industry. The country was one of the first in the world 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.”

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