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Binance will help Cambodia in the development of the rules for regulating digital assets

Cryptobirge signed similar agreements with the governments of Kazakhstan, Dubai and Bermuda.

The Binance crypto -rope signed a memorandum of understanding with the regulator of securities and exchanges of Cambodia (Serc), the report said on June 30. Binance and Serc will jointly work on the development of the rules for regulating digital assets in the country. Serc seeks to use the technical knowledge and experience of Binance in this area to develop its own legal framework for the digital asset market. Cryptocurrencies are not regulated in Cambodia, and any unlicensed activity related to these digital assets is strictly prohibited. This partnership can become decisive for a South Asian country, where any activity related to cryptocurrencies is considered illegal since 2018. Gleb Kostarev, regional head of Binance in Asia, said Cointelegraph: "In economic terms, Cambodia is included in the TOP 10 of the fastest developing countries over the past 10 years, and the annual economic growth has been constant. In addition, there are many young and technically savvy people among the population. Given all these advantages, we believe that Cambodia can become a leader In the Web3 industry and digital assets. It will be an honor for us to be part of this process. " In recent years, Asia has become a hot point of cryptocurrencies, and several countries in the region have adopted an approach that supports cryptocurrencies. Thailand, Singapore, Malaysia and Philippines have developed progressive rules to encourage the use of crypto assets in their countries. Binance pays special attention to good relations with regulatory authorities, especially after in 2021 she suffered a fiasco, as a result of which almost half a dozen countries issued her warnings about compliance. Since then, the leading crypto -story has established its relationship and over the past year has established the most important partnerships in Asia in countries such as Thailand, Malaysia and Singapore. The cryptocurrency also made a name for itself, offering the governments a technical examination in the field of cryptocurrencies and helping them regulate the nascent sector. The exchange signed an investment agreement on Bermuda in the amount of 15 million US dollars for training and enlightenment of a society in the field of cryptocurrencies. Similar: Binance U.S. It makes BTC trading without a commission, as competitors feel heat. The regulatory penetration of Binance into developing markets attracted the attention of many, including Alex Gladstein, the chief strategist of the Human Rights Fund. Gladstein praised the recent expansion of Binance to developing markets, such as Asia, Africa and the Middle East, saying: "So far, Western cryptocurrency companies buy advertising in Super Bowl and the rights to sports stadiums, Binance ruthlessly and guardianship captures the developing markets of Asia, Africa, the Middle East and Latin America. They win." In May, Binance signed a similar memorandum of understanding with the Government of Kazakhstan to help him in accepting cryptocurrencies and regulation. Similarly, in December 2021, the company signed a memorandum of mutual understanding with the Office of the World Commercial Center of Dubai, and then received a license for activities in this country.

6/30/2022