Crypto Exchange Binance Signs MoU With Kazakhstan To Fight Financial Crime

Twitter icon  •  Published för 1 år sedan  •  Hassan Maishera

Crypto exchange Binance has signed a Memorandum of Understanding with the Financial Monitoring Agency of the Republic of Kazakhstan to help fight financial crime.

Binance, the world’s leading cryptocurrency exchange, announced via a blog post on Monday, that it has signed a Memorandum of Understanding with the Financial Monitoring Agency of the Republic of Kazakhstan.

According to the terms of the agreement, Binance and the Financial Monitoring Agency of the Republic of Kazakhstan expressed mutual interest in the safe development of virtual asset markets in the country and the creation of a long-term and sustainable platform for interaction.

Binance revealed that the meeting to sign the Memorandum of Understanding was attended by Zhanat Kaldybekovich Elimanov, Chairman of the Financial Monitoring Agency of the Republic of Kazakhstan, heads and employees of the Financial Monitoring Agency of the Republic of Kazakhstan, and representatives of the Binance ecosystem. 

The MoU was signed to cement the collaboration between Binance and the Republic of Kazakhstan in the sphere of circulation of crypto assets and information exchange. The two parties will work together to identify and block virtual assets obtained by criminal means, as well as those intended for the legalization (laundering) of proceeds from crime and the financing of terrorism.

Tigran Ghambaryan, VP of Global Intelligence and Investigations. Binance commented that;

“Binance has the most robust compliance program in the industry, including anti-money laundering (AML) and global sanctions principles, as well as tools to proactively detect suspicious accounts and fraudulent activity. We express our gratitude to the Financial Monitoring Agency of the Republic of Kazakhstan for their cooperation and commitment to solving problems in the rapidly growing cryptocurrency industry.”

Ghambaryan also presented a report on the topic “Investigations in the cryptosphere”. The Binance team, led by the head of the global sanctions department of Binance, Chagri Poyraz, also submitted another report on the topic “Typologies of sanctions evasion using cryptocurrencies, suppression of illegal activities”. 

This latest development comes a few days after Binance gained regulatory approval in New Zealand. Binance revealed last week that it had registered its services with the New Zealand Ministry of Business, Innovative and Employment (MBIE) on September 10th.

At the time, the company’s CEO, Changpeng Zhao, said;

"I guess for some, it’s easy to overlook as it’s a smaller market, but we see significant value in having a serious New Zealand presence. We see New Zealand as a bit of a pioneer, so from that perspective, I think there’s a lot to be learned here with our local team working with Kiwis to envisage the future of currency, transactions and the web.”

Binance said its Law Enforcement Training Program has already taken place in France, Germany, Italy, the UK, Norway, Canada, Brazil, Paraguay, and Israel. 

Binance’s continued expansion and more positive Binance reviews ensure that the cryptocurrency exchange further cements its place as the world’s leading digital asset trading platform.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.