Cryptocurrency exchange Binance wants to support Azerbaijan in its efforts to create regulations for digital assets.
In early October, Binance offered to support the Kazakhstan government in the “safe development” of the country’s crypto market and agreed to cooperate with the financial authorities. It was later licensed as a crypto exchange and custody services provider. It aims to take a similar step together with Azerbaijan.
Binance Will Help Azerbaijan With Crypto Regulations
Olga Goncharova, Binance’s Director of Commonwealth of Independent States (CIS) Government Relations, told local media; He said the company is ready to assist the Central Bank of Azerbaijan (CBA) in elaborating its crypto regulatory mechanisms.
Speaking to Azerbaijan’s Trend News Agency, Binance representative explained that regulatory issues were discussed during a recent meeting with CBA officials and said:
“The introduction of regulation will increase confidence in the sector as well as foreign direct investment in the country. Although crypto assets have declined for various reasons this year, we see that the technology itself is surviving and interest in it will increase. This technology solves the challenges faced by citizens, including financial services, with minimal cost and even faster.”
