Binance, the popular cryptocurrency exchange has committed its assistance to Kazakhstan in its efforts to encourage the responsible growth of the country’s cryptocurrency industry. The exchange and Kazakhstan’s financial authorities want to share information regarding instances of illegal activity related to the trade of digital assets.
Binance, the most popular cryptocurrency exchange platform in the world, and the Financial Monitoring Agency of Kazakhstan have signed a memorandum of understanding to cooperate on the responsible growth of the virtual assets market in Kazakhstan.
An official statement noted that the agreement would serve as the framework for coordinated investigations and prosecutions of crimes affecting digital assets. The cryptocurrency trading platform and the regulatory agency want to share information that may be used to spot and halt the use of cryptocurrency holdings in illegal activities including money laundering and the funding of terrorism.
Binance’s global director of intelligence and investigations, Tigran Gambaryan, claims his business has the most comprehensive compliance program in the sector, with features including anti-money laundering and sanctions compliance, as well as the ability to spot suspicious accounts and fraudulent activities.
Gambaryan and Chagri Poyraz, directors of Binance’s global sanctions department, gave presentations during the conference focusing on their respective investigations into and efforts to prevent criminal activity that leads to sanctions evasion by means of cryptocurrencies.
The Binance Memorandum is an integral element of the company’s worldwide effort to educate government and law enforcement officials. Its primary goal is to strengthen relationships between law enforcement agencies throughout the world to combat online and offline fraud.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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