Binance to support CBA in regulation of crypto assets

By Trend

The world’s largest cryptocurrency exchange, Binance, is ready
to support the Central Bank of Azerbaijan in creating mechanisms
for the regulation of crypto assets, Director of Governmental
Relations in CIS for Binance Olga Goncharova told Trend.

Goncharova noted that during the meeting with the CBA, issues of
regulation of crypto assets in Azerbaijan were discussed.

“In practice, both around the world and in a number of CIS
countries, central banks choose the way to regulate cryptocurrency
rather than ban it. In this regard, the introduction of regulation
will increase confidence in the industry as well as increase
foreign direct investment in the country. Any regulation, which we
consider the most important, provides protection for citizens and
users of crypto-assets,” she said.

Goncharova pointed out that Binance sees great potential for the
crypto-industry and blockchain technology in the near future.

“The cryptosphere has great innovation potential, as evidenced
by the number of startups that are increasingly entering the field.
Blockchain technology itself is growing. Even though crypto-assets
declined this year for various reasons, we see that the technology
itself has held up and interest in it will only grow. This
technology solves the challenges citizens are facing, including
financial services at minimal cost and even faster,” Goncharova
said.

She said the CIS countries show great interest in Binance
products, including more complex ones.

“In addition, in such countries as Kazakhstan, Kyrgyzstan and
others we held meetings with our users this year and these meetings
will be expanded geographically,” Goncharova concluded.

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