Binance today announced the signing of an MoU (Memorandum of Understanding) with Kazakhstan’s Financial Monitoring Agency. The parties indicated a mutual interest in the safe growth of virtual asset markets in the nation as well as the construction of a long-term and robust framework for interaction in the agreement.
Zhanat Kaldybekovich Elimanov, Chairman of the Financial Monitoring Agency of the Republic of Kazakhstan, leaders and Financial Monitoring Agency employees from the Republic of Kazakhstan, and members of the Binance ecosystem attended the meeting to sign the Memorandum of Understanding.
Binance’s MoU will help ramp up mutual support in the crypto sphere
The signing of the memorandum is primarily for the parties’ cooperation and mutual support in the areas of crypto asset circulation and information exchange, identification, and blocking of virtual assets obtained through criminal means, as well as those destined for the legalization (laundering) of funds raised from crime and terrorism financing.
“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.”
said Tigran Ghambaryan, VP of Global Intelligence and Investigations
Additionally, Tigran Gambaryan, Vice President for Global Intelligence and Investigations at Binance, gave a report on “Investigations in the Cryptosphere” at the meeting with the Financial Monitoring Agency of the Republic of Kazakhstan.
Chagri Poyraz, the head of the exchange’s global sanctions department, gave a report on the topic of “Typologies of sanctions evasion using cryptocurrencies, suppression of illegal activities” during the meeting of representatives from Binance and the Agency of the Republic of Kazakhstan for Financial Monitoring.
The Memorandum was signed as part of a global training program for officials from regulatory and law enforcement organizations all around the world.
The program’s primary objective is to strengthen ecosystem collaboration with national and international law enforcement in the fight against financial and cybercrime.
The Binance Law Enforcement Training Program has previously been conducted in Israel, Canada, Brazil, Brazil, France, Germany, Italy, the United Kingdom, and Norway. In the next months, similar incidents will occur in other areas and nations.
Over the past few months, Binance has been successful in getting clearance and registration in France, Italy, and Spain thanks to stringent compliance and AML processes, as well as collaborations with law enforcement.
