Binance signs memorandum of understanding with Kazakhstan’s financial-monitoring agency

On 3 October, the cryptocurrency exchange Binance подписала меморандум о взаимопонимании with the Agency for Financial Monitoring of the Republic of Kazakhstan. The document sets out the procedures for the parties’ cooperation to safely develop the virtual-asset market in the country.

Binance intends to assist the regulator in detecting and blocking virtual assets obtained through criminal activity.

“Binance’s compliance programme to meet industry requirements includes anti-money-laundering and global sanctions principles, as well as tools for proactive detection of suspicious accounts and fraudulent activity,” said Tigran Gambaryan, Binance’s Vice President of Global Intelligence and Investigations.

The signing occurred as part of a global programme to train regulators and law-enforcement officials in the fight against cyber and financial crime. It has already been conducted in France, Germany, Italy, the United Kingdom, Norway, Canada, Brazil, Paraguay and Israel. In the coming months, similar events will be held in other regions and countries.

Earlier in May Binance signed a memorandum of understanding with the Ministry of Digital Development, Innovations and Aerospace Industry of Kazakhstan.

Under the agreement the platform advises the country on cryptocurrency regulation and develops solutions to integrate banking infrastructure into the Bitcoin market.

In August, the Bitcoin exchange received principled approval to operate a digital-asset platform and provide custody services at the Astana International Financial Centre.

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