Binance Signs Memorandum of Understanding with Kazakhstan to Combat Financial Crime

Binance claimed that their compliance infrastructure is among the best in the world and has helped them achieve regulatory approval even in countries where they were deemed illegal until last year.

Global cryptocurrency exchange Binance has signed a Memorandum of Understanding (MoU) with the Financial Supervision Agency of the Republic of Kazakhstan as part of its global law enforcement training program.

The program, which involves officials from regulatory and law enforcement agencies around the world, aims to strengthen the industry's cooperation with national and international law enforcement in the fight against financial crime and cybercrime.

The program further seeks to identify and block illegally obtained digital assets used to launder the proceeds of crime and finance terrorism.

Kazakhstan has become one of the leading crypto countries for mining Bitcoin (BTC) and in recent times, the Central Asian country has also developed favorable crypto regulations, such as allowing exchanges cryptographic to open bank accounts, and even legalization. wider use of cryptography. Binance obtained approval in principle to operate in Kazakhstan at the beginning of August this year.

Gleb Kostarev, Asia regional manager for Binance, told Cointelegraph that Kazakhstan's pro-crypto stance is one of the...