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Kazakhstan and Binance Signs MoU to Promote Crypto Adoption

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Binance, the world’s largest crypto exchange by trading volume is making significant strides aimed at educating citizens about cryptocurrency. This comes after it inked a partnership with the Ministry of Digital Development of the Republic of Kazakhstan.

Both parties, after signing a Memorandum of Understanding (MoU), stressed the significance of the country’s cryptocurrency growth. This was announced by the company’s top representatives currently in Kazakhstan on an official visit.

Kazakhstan President Kassym-Zhomart Tokayev, the First Deputy Chief of the President’s Staff, Timur Suleimenov, and the Minister of Digital Development, Innovation, and Aerospace Industry, Bagdat Musin signed the agreement on behalf of the Kazakhstan government.

Through Binance, the Kazakhstan government is now one step closer to establishing regulations and oversight for the country’s crypto assets, coupled with the exchange’s commitment to supporting the local community’s growth through digital education as a key part of that effort.

Binance’s founder and CEO, Changpeng Zhao (CZ), stated that “growing crypto acceptance around the world, to have a beneficial impact on society as a whole, is one of our key goals. Since Kazakhstan’s first mining legalization initiative was one of the its first endeavors, we’re optimistic about what we can achieve together.”

One country that has been identified as a Bitcoin haven is Kazakhstan, which became a home to some of the world’s largest cryptocurrency miners after China outlawed cryptocurrency mining.

Although Bitcoin miners have flooded the country making it difficult for the government to keep track of them. However, the government is now examining ways to curb and regulate these activities.

This newfound partnership with Binance will allow Kazakhstan to leverage on cryptocurrencies more effectively to achieve its educational, economic, and digital goals.

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