Binance signs MoU with The Ministry of Digital Development of the Republic of Kazakhstan

Binance, the world’s leading cryptocurrency and blockchain infrastructure provider, today announced the signing of an MoU with the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan. In the agreement, the parties expressed mutual interest in virtual asset market development in the country.

The signing of the MoU took place within the framework of the official visit of СZ to Kazakhstan. On May 25, 2022, Binance CEO Changpeng Zhao visited Kazakhstan and met with President of Kazakhstan Kassym-Zhomart Tokayev, First Deputy Chief of Staff of the President of Kazakhstan, Timur Suleimenov, and Minister of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan, Bagdat Musin.

The move will see Binance help advise on developing the 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. 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.”

About the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan 

The Ministry is engaged in the formation and implementation of the state policy in the field of digital development of the country within the fields of innovation, communications, public services, and electronic industry. The Ministry is also engaged in the development of e-government, coordination of the activities of the State Corporation, "Government for Citizens," information security, aerospace, geodesy and cartography.

For more information, visit https://www.gov.kz/memleket/entities/mdai/about?lang=en