#crypto2023 news update :

Signing in #Kazakhstan :

On June 21, 2023, CZ, the CEO of Binance, signed a memorandum of understanding (MoU) with the President of Kazakhstan, Kassym-Jomart Tokayev, and the Minister of Information Technology, Bagdat Mussin. The MoU was signed in Astana, the capital of Kazakhstan .

The MoU is a framework agreement that outlines the cooperation between Binance and the government of Kazakhstan in the field of cryptocurrency. The agreement covers a number of areas, including the development of a regulated cryptocurrency exchange in Kazakhstan, the promotion of blockchain technology, and the training of Kazakhstani citizens in the field of cryptocurrency.

The signing of the MoU is a significant development for the cryptocurrency industry in Kazakhstan. The country has been a major hub for cryptocurrency mining in recent years, and the signing of the MoU is a sign that the government is taking a more favorable stance towards the industry.

The MoU also provides a number of benefits for Binance. The company will be able to operate in Kazakhstan under a clear regulatory framework, and it will be able to access the country's large pool of skilled IT workers.

Left to right:

CZ, the CEO of Binance

President of Kazakhstan #Kassym-Jomart Tokayev

Minister of Information Technology Bagdat Mussin

The signing of the MoU is a positive development for both Binance and the government of Kazakhstan. It is a sign that the cryptocurrency industry is growing in Kazakhstan, and it is a step towards the adoption of blockchain technology in the country.

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Great news and jubilations as Binance Exchange goes live in Kazakhstan, with Regulators help. This would now be referred to as Binance #Kazakhstan , just like we have Binance U.S and it's fully into compliance with the regulators in the region.

For those who don't know, Kazakhstan is a Country in Central Asia and with loads of potentials in digital growth and technological advancements.

In a recent tweet, #Binance shared insights to their latest development and progress towards #crypto2023 $ adoption. This event occurred on June 20th, 2023 and the statement read;

Binance Launches a Regulated Digital Asset Platform in Kazakhstan👇

Blog📰

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More details reveal that, the regulators are very hopeful about the future of this new technology. In a series of statements, shared by Binance blog, it read;

the permanent license was secured from the AIFC Financial Services Authority (AFSA), to manage a digital asset platform and provide custodial services at the Astana International Financial Center (AIFC) in October last year...

According to Asset Turysov, Vice Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the government is running a special initiative to facilitate the interaction between the AIFC, cryptocurrency exchanges, and second-tier banks. The National Bank of Kazakhstan, the Financial Monitoring Agency of the Republic of Kazakhstan, as well as the Agency for Regulation and Development of the Financial Market all take part in this project, which has already shown excellent results.....

Turysov said: “Over the past year, regulators in Kazakhstan have taken significant steps towards the development of the cryptocurrency industry. Binance has provided assistance to Kazakhstan in the development of a legislative framework and a general policy for the regulation of crypto assets, as well as in the implementation of various educational initiatives, including for government and law enforcement agencies and regulators.”

Zhaslan Madiyev, General Manager of Binance Kazakhstan, noted that Binance is productively working with five regulatory bodies in the country: the AIFC Financial Services Authority (AFSA), the Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the National Bank of the Republic of Kazakhstan, the Financial Market Regulation and Development Agency, and the Financial Monitoring Agency. 

Madiyev added: “I want to express my deep gratitude to all regulators for their huge contribution to the development of the entire cryptocurrency industry. Thanks to constantly being in touch with Kazakhstan regulators, by the end of the year we plan to significantly expand the product line for users of the local cryptocurrency exchange, as well as to have no less than 100 digital assets approved and available on the platform.”

Ablaykhan Ospanov, Managing Director of Bank Freedom Finance Kazakhstan JSC, called the launch of a pilot project for the operation of cryptocurrency exchanges in Kazakhstan a “major boost for the entire industry,” adding: “Many countries can follow Kazakhstan’s example. We see a great potential for the development of the blockchain and cryptocurrency industry, and we are also making great efforts to grow it.”

Binance Kazakhstan users can buy and sell cryptocurrencies using a fiat balance, spot trading, and conversion, with the range of services offered expected to expand. There are two channels available to deposit and withdrawal: bank cards and bank transfer via Freedom Finance Bank. The global Binance dot com platform will continue to be available to users in Kazakhstan.

With news like these, investors are more likely to focus on the industry while try to Capitalize on early access and price pumps. #bitcoin is already seeing all time highs of $30k after months of bearishness. 🔥

You can leave a comment below and tell us what you feel about these new developments and #news 👇

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Thanks for reading!!!

Binance, which obtained a permanent license in Kazakhstan in October last year, has launched a local trading platform in the Central Asian country. The new platform will offer users trading and custody of digital assets, deposit and withdrawal of fiat currencies as well as conversion services, Binance mentioned in a blog post published today .

Binance’s presence in Kazakhstan marks its first presence in the Central Asia sub-region although the world’s largest cryptocurrency exchange offers support to users in several countries across Asia. The exchange’s launch in Kazakhstan comes as regulators seek to develop the country’s cryptocurrency industry.

“Binance has provided assistance to Kazakhstan in the development of a legislative framework and a general policy for the regulationRegulationLike any other industry with a high net worth, the...Read this Term of crypto assets, as well as in the implementation of various educational initiatives, including for government and law enforcement agencies and regulators,” explained Asset Turysov, Kazakhstan’s Vice Minister for Digital Development, Innovation and Aerospace Industry.

To float its local services in Kazakhstan, Binance also partnered with local financial services provider, Bank Freedom Finance Kazakhstan JSC. The collaboration provides users in the country with the ability to transfer fiat funds to accounts on the new trading platform. Moreover, Binance plans to expand the trading platform in the coming months.

“Thanks to constantly being in touch with Kazakhstan regulators, by the end of the year we plan to significantly expand the product line for users of the local cryptocurrency exchange, as well as to have no less than 100 digital assets approved and available on the platform," Zhaslan Madiyev, the General Manager of #Binance #Kazakhstan , stated.

#crypto2023 news update :

Binance Launches Regulated Exchange in Kazakhstan :

#Binance , the world's largest cryptocurrency exchange, has launched a regulated exchange in #Kazakhstan . The new exchange, called Binance Kazakhstan, is licensed by the Astana Financial Services Authority (AFSA).

Binance Kazakhstan will offer a range of cryptocurrency trading services, including spot trading, margin trading, and futures trading. The exchange will also offer fiat-to-cryptocurrency trading pairs, allowing users to buy and sell cryptocurrencies with Kazakh Tenge.

The launch of Binance Kazakhstan is a significant development for the cryptocurrency industry in Kazakhstan. The country has been a major hub for cryptocurrency mining in recent years, and the launch of a regulated exchange is a sign that the government is taking a more favorable stance towards the industry.

Details of the Launch :

The launch of Binance Kazakhstan was announced on June 21, 2023. The exchange is located in the Astana International Financial Center (AIFC), which is a special economic zone that offers favorable regulatory conditions for businesses.

Binance Kazakhstan is licensed by the AFSA, which is the financial regulator for the AIFC. The exchange has also been granted a "Category 4" license, which allows it to offer a range of cryptocurrency trading services.

The Benefits of the Launch :

The launch of Binance Kazakhstan is a significant development for the cryptocurrency industry in Kazakhstan. The country has been a major hub for cryptocurrency mining in recent years, and the launch of a regulated exchange is a sign that the government is taking a more favorable stance towards the industry.

The launch of Binance Kazakhstan will also provide a number of benefits for users. The exchange will offer a wide range of cryptocurrency trading services, and it will be regulated by the AFSA. This means that users can be confident that their funds are safe and that the exchange is compliant with local regulations.

The Future of Cryptocurrency in Kazakhstan :

The launch of Binance Kazakhstan is a positive sign for the future of cryptocurrency in Kazakhstan. The country has a strong track record in the mining industry, and the launch of a regulated exchange will make it easier for businesses and individuals to participate in the cryptocurrency ecosystem.

It is likely that we will see more cryptocurrency exchanges launch in Kazakhstan in the future. As the industry continues to grow, the government is likely to become more supportive of cryptocurrency businesses. This will make Kazakhstan an even more attractive destination for cryptocurrency investors and entrepreneurs.

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Introduction

Kazakhstan, a nation at the crossroads of Asia and Europe, is making significant strides in embracing the world of cryptocurrency. A recent event brought together key figures in the industry, including the President of Kazakhstan, Kassym-Jomart Tokayev, Binance CEO Changpeng Zhao (CZ), and the Minister of Information Technology, Bagdat Mussin. The meeting highlights the country's commitment to fostering technological advancements and creating a favorable environment for crypto-related initiatives.

The Significance of the Meeting:

The gathering in Kazakhstan signifies the recognition of the transformative potential of cryptocurrencies and blockchain technology. It showcases the government's willingness to engage with industry leaders and explore collaborative opportunities. President Tokayev's presence not only demonstrates his support but also symbolizes the country's official endorsement of cryptocurrency as a catalyst for economic growth and innovation.

Binance's Role in Kazakhstan:

Binance, the world's leading cryptocurrency exchange, plays a vital role in the development of the crypto ecosystem in Kazakhstan. With its vast experience and expertise, Binance aims to provide guidance, support, and infrastructure for the country's crypto-related projects. The partnership between Binance and Kazakhstan can pave the way for the implementation of blockchain solutions, fostering entrepreneurship, and attracting international investments.

Government's Support for Crypto:

Kazakhstan's government has shown remarkable openness and support for the crypto industry. The country's progressive approach is evident in its efforts to establish a regulatory framework that balances innovation and investor protection. By creating an enabling environment, Kazakhstan aims to attract blockchain startups, nurture local talent, and position itself as a leading destination for crypto-related businesses in the region.

Unlocking Opportunities:

The collaboration between the government and Binance brings immense opportunities for the country's economy. By embracing cryptocurrencies, Kazakhstan can unlock new avenues for financial inclusion, improve transparency in transactions, and enhance cross-border remittances. Additionally, the utilization of blockchain technology can streamline administrative processes, reduce bureaucracy, and enhance the efficiency of public services.

A Global Crypto Hub in the Making:

With the strong commitment from the government and the involvement of industry leaders like Binance, Kazakhstan has the potential to become a global hub for cryptocurrency and blockchain technology. The combination of favorable regulations, strategic partnerships, and a supportive ecosystem will attract talent, investments, and groundbreaking projects. This will not only benefit Kazakhstan's economy but also position the country as a trailblazer in the global crypto landscape.

Closing Thought

The signing event in Kazakhstan signifies a significant milestone in the country's journey towards embracing cryptocurrencies and blockchain technology. By collaborating with industry giants like Binance, Kazakhstan is poised to unlock the immense potential of this emerging sector. The government's proactive approach, coupled with Binance's expertise, will drive innovation, economic growth, and position Kazakhstan as a global leader in the crypto space. This partnership serves as a shining example of how governments and industry players can work together to shape a future powered by digital currencies and blockchain technology.

#Binance #CZBINANCE #Kazakhstan