The cryptocurrency exchange Binance and the National Bank of Kazakhstan presented a joint report on the state of the digital asset industry in Central Asia.
In it, the parties analysed the adoption of cryptocurrencies and the broader DeFi trends. They studied the regulatory framework of the CIS countries and the main market trends requiring state oversight.
Among these are investments in research into the problems and opportunities of the DeFi segment, the origin of the data used by oracles to support smart contracts, and irrational user behaviour.
The report underscores the importance of financial and digital literacy to mitigate risks related to consumer protection.
It also notes the need to raise the professional qualifications of regulators and law-enforcement agencies to implement supervision of the industry.
Back in late 2022, Binance signed a memorandum with Kazakhstan’s authorities to launch an educational program in blockchain engineering and compliance across 22 specialised universities in the country.