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Binance Teams Up with Regulators to Fight Financial Crime in Kazakhstan

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Pavan A Follow

INDIA

Oct, 04 2022

Oct, 04 2022

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The Financial Monitoring Agency of the Republic of Kazakhstan and Binance, one of the world's largest cryptocurrency exchanges, have agreed to establish a global law enforcement training program to advance digital asset development in the country.? 


A global law enforcement training program will be established by Binance in order to keep regulators around the world apprised of the most recent developments in cryptocurrency regulation. It aims to strengthen industry cooperation with national and international law enforcement in the fight against financial crime and cybercrime by bringing together officials from a variety of global regulatory and law enforcement organizations.? 


Binance VP of Global Intelligence and Investigations, Tigran Ghambaryan, said the platform has "the most robust compliance program in the industry." 


“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,” he added. 


During a recent meeting, Kazakhstan's President, Kassym-Jomart Tokayev, expressed interest in turning Kazakhstan into a cryptocurrency hub. A regulated and secure exchange of digital assets might be launched by the authorities, he said: 


Kazakhstan has been increasingly interested in cryptocurrencies due to the recent migration wave from Russia into Kazakhstan. As a result of Vladimir Putin's "partial" military mobilization, nearly 100,000 Russians have entered the country, according to some reports. 


In an in-principle approval granted by the Astana Financial Services Authority to Binance in August, Binance was granted permission to legally operate in Kazakhstan.? 


Binance has already established law enforcement training programs in Israel, Canada, Brazil, France, Germany, Italy, the United Kingdom, and Norway. Even in countries where they were illegal until last year, Binance was able to obtain regulatory approval thanks to its compliance infrastructure 


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Pavan A

CBW - External Analyst

INDIA

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