Binance, a major cryptocurrency exchange, has signed a second memorandum of understanding (MoU) with Kazakhstan, this time focusing on “the safe development of virtual asset markets” in the Central Asia country.

The crypto exchange signed the MoU with the country’s Financial Monitoring Agency on October 3, 2022, in Astana, the capital city of Kazakhstan.

On Tuesday, Binance in a statement further noted that the new memorandum is targeted at creating “a long-term and sustainable platform for cooperation.”

“The main focus of the MOU is on building pathways for cooperation and mutual support in areas such as exchange of information about digital assets’ movement, detecting and tracking assets obtained by criminal means, as well as those intended for the legalization (laundering) of criminal proceeds and the financing of terrorism,” Binance explained.

Additionally, the exchange said the MoU is part of the efforts to implement its new Law Enforcement Training Programme under which it has held workshops in the UK, Canada, Germany, France, Italy and Norway, among other countries.

Binance said the programme was designed to help law enforcement teams across the world in detecting financial crimes and cybercrimes.

Meanwhile, In May, Binance signed an MoU on the development of distributed ledger technology with Kazakhstan following the visit of Binance CEO, Changpeng Zhao, to the country.

Binance's new MoU comes a few days after the crypto exchange secured a permanent license to operate as a digital asset service provider in Kazakhstan.

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Source >> Finance magnates