Share this article
Binance to Advise on Crypto Strategy as Kazakhstan Looks to Boost Industry
The country known as a bitcoin mining hub is trying to attract more crypto firms and broaden the industry.
Updated May 11, 2023, 3:43 p.m. Published May 25, 2022, 3:30 p.m.
Binance, the world's largest crypto exchange, will help Kazakhstan develop digital assets regulation as the central Asian country looks to develop its crypto industry beyond bitcoin mining.
- Binance will also try to "integrate banking infrastructure within the cryptocurrency market," and help with the country's blockchain strategy, according to a post on its official blog.
- It will work with the country's digital ministry to make IT park Astana Hub into a regional blockchain hub, the post said.
- Kazakhstan is one of the world's biggest bitcoin mining powerhouses, but its mining industry has been struggling to deal with electricity shortages. The government has turned to developing its crypto and blockchain industry beyond mining, including attracting new firms to its finance hub, the Astana International Financial Centre (AIFC).
- The central bank also confirmed to CoinDesk a March amendment to a law that allows banks to service crypto exchanges established in the AIFC.
- The advisory role is a turnaround for Binance, which last year drew ire from regulators around the world. The company has since been beefing up its compliance team and efforts to assuage their concerns.
- Binance founder and CEO Changpeng "CZ" Zhao met Kazakh President Kassym-Jomart Tokayev, as well as Minister of Digital Development, Innovation and Aerospace Industry Bagdat Musin and the president's First Deputy Chief of Staff Timur Suleimenov on Wednesday, according to the post.
- "Together with CZ, we considered the Binance roadmap in Kazakhstan. We also discussed the potential of creating a blockchain-oriented VC-fund and academy to help local talents from Astana Hub to go global," Tokayev said according to the blog post.
Read more: Kazakhstan Looks to Bring Crypto Exchanges to Central Asian Financial Hub
STORY CONTINUES BELOW
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Iran accepts cryptocurrency as payment for advanced weapons
Prospective customers could purchase weapons such as missiles, tanks and drones using crypto, according to a government website.
What to know:
- Iran's Ministry of Defence Export Center is accepting cryptocurrency payments for advanced weapons systems as a means of bypassing international sanctions that the country faces.
- The offer is among the first known instances of a country accepting cryptocurrency as a means of payment for military equipment, according to the Financial Times.
- The facility for using cryptocurrency to pay for transactions involving sanctioned countries is already well established.
Top Stories
