Binance, the largest crypto enterprise, has taken a step further in its intercontinental race. Changpeng Zhao, the firm’s SEO, met the officials of Kazakhstan to sign an MoU. The agreement seeks to encourage the adoption of digital assets in the country. 

Binance Signs An MoU With Kazakhstan

On Monday, Binance confirmed an accord with the Financial Monitoring Agency of Kazakhstan. Both entities started off with a cordial enthusiasm to incorporate cryptocurrency into the country. They sought to build a secure marketplace for digital assets and establish a lasting platform. 

Some significant individuals attended the meeting to get the affiliation ongoing by signing an MoU. Zhanat Kaldybekovich Elimanov, chairman of the FMA, was in attendance. The leaders and employees of FMA were also present for the signing. 

Lastly, delegates from Binance, the catalyst of the tandem, were on the seat. The liaison will foster cooperation and push a collaborative effort to supply digital assets. They also seek to share information concerning new developments in the industry. 

Additionally, they aim to safeguard potential investors and apprehend cyber criminals. Also, to take down parties who launder money via cryptocurrency. And to identify transactions intended to finance terrorists. 

Tigran Ghambaryan stated that Binance possesses the broadest regulatory plans backing cryptocurrency trading. Some of them include its anti-money laundering policy and global sanctions principles. Also, it has a mechanism to run down shady accounts and scams.

The VP of GII (Global Intelligence and Investigation) of Binance appreciated FMA for its cooperation. He further thanked FMA representatives for their devotion to providing solutions to the crypto space. 

Binance Reads Reports Of Security Schemes

Amid the meeting with FMA council members, Tigran raised a motion to read a report. The report was about investigation in the cryptosphere. It asserted avenues fraudsters swindle naive investors of their crypto holdings.

Furthermore, it contained details of how Binance looks into such a situation to track the attacker. The steps involved and the period it takes for a crime as such to remain active. It also included the punishment meted out to culprits.

Chagri Poyraz, the leader of the global sanctions section of Binance, also gave a report. His report was concerning types of sanction evasions using cryptocurrency. Another part was about clamping down on illicit activities. 

It outlined strategies investors use to avoid sanctions. It also stated the punishment for their actions, advising Kazakhstan not to indulge in it. 

Another reason behind the MoU is to kick off a training scheme for security agencies. It will also teach law enforcement globally tactics to round off digital criminals. Through the program, they can unite the industry against financial crimes. 

Binance has organized the training in several countries to date. Some of them are Brazil, Germany, France, Norway, Paraguay, Israel, Canada, and the UK. The training will happen in other parts of the world soon.