Binance to Set Up Regional Office in Kazakhstan, Intends to Co-Develop Crypto Laws

Binance has been taking efforts to expand its crypto literacy and training programme among law-enforcement officers around the world.

Binance to Set Up Regional Office in Kazakhstan, Intends to Co-Develop Crypto Laws

Photo Credit: Unsplash/ Vadim Artyukhin

Binance entered the Kazakhstan market just two months ago, in August

Highlights
  • Binance is also working a regional hub in Nigeria
  • The crypto exchange aims to train law enforcement officers
  • Binance is also looking to enter Japan market
Advertisement

Binance crypto exchange has signed an agreement with the government of Kazakhstan intending at fostering the crypto and Web3 culture. Kazakhstan's Financial Monitoring Agency is looking to have Binance provide insights on framing laws around the crypto sector. Both the entities plan to target illicit activities around the virtual digital assets (VDAs) sector. As per The Block, Kazakhstan will house Binance's regional headquarters and work on co-creating crypto regulations in the region.

Binance has been taking efforts to expand its crypto literacy and training programme among law-enforcement officers around the world. Its hub in Kazakhstan will usher this effort in the region, which houses a big number of crypto miners.

Under the ‘Global Law Enforcement Training Programme', Binance will connect police officers in different parts of the world to skilled Web3 professionals who would run trainings on ways to combat potential crypto crimes as well as ways to tackle the aftermath.

Binance, which aims to become the most licenced crypto exchange in the world, entered the Kazakhstan market just two months ago, in August.

The company was granted the relevant licences by the Astana Financial Services Authority.

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

At the time, the exchange giant had also entered an agreement with the Ministry of Digital Development of Kazakhstan to bolster Web3 boom.

Meanwhile, Zhao has shared his excitement on the development with his seven million Twitter followers.

Binance is also coordinating with Nigeria to establish a special economic zone, powered by the crypto 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).


Apple unveiled eight new products at its September 'Far Out' event. Which ones will float — and which will sink? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Radhika Parashar
Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More
TRAI to Propose Unified KYC System to Check Fraudulent Callers: Chairman PD Vaghela
Kim Kardashian Agrees to Pay $1.26 Million to US SEC for Unlawful Crypto Promotion on Social Media
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »