Binance has a deal with Kazakhstan and intends to become a regional centre

Binance and Kazakhstan’s Financial Monitoring Agency struck an agreement to formalize their common goal of expanding the country’s digital asset market.

The ‘memorandum of understanding’ indicates mutual support for the development of crypto assets and data circulation, as well as the suppression of criminal trade.

Binance “plans to expand its Kazakhstani headquarters,” Kazakh President Kassym-Jomart Tokayev stated in a Wednesday plenary session, stressing that the exchange intends to become a “center for the whole area.”

In August, the Astana Financial Services Authority granted Binance permission to do business in Kazakhstan. In May, when Binance CEO CZ visited with President Kasyy-Zhomart Tokayev and other senior Kazakh officials, the exchange giant also inked a deal with Kazakhstan’s Ministry of Digital Development.

The events in Kazakhstan are a part of Binance’s larger worldwide law enforcement training initiative to unite local and international financial agencies to “fight together against cyber and financial crimes globally,” as CZ tweeted to announce the announcement.

In France, Germany, Italy, the United Kingdom, Norway, Canada, Brazil, Paraguay, and Israel, the training program has already been finished as Binance continues to seek clearance and registration in nations globally.

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