Binance, a cryptocurrency exchange, has offered to help Azerbaijan in its efforts to put up rules for digital assets.
The top cryptocurrency trading platform has been active in the area this year in an effort to boost its market presence and communicate with authorities more frequently.
According to Olga Goncharova, the company’s Director of Governmental Relations in the Commonwealth of Independent States (CIS), Binance, the largest exchange for crypto assets in the world, is prepared to assist the Central Bank of Azerbaijan (CBA) in developing mechanisms for crypto regulation.
In reality, central banks throughout the globe and in a number of CIS nations prefer to regulate cryptocurrency rather than outright outlaw it.
According to Goncharova, “introducing legislation will boost confidence in the sector as well as foreign direct investment in the nation.”
The executive stressed that Binance believes the cryptocurrency market has a bright future, stating that customers from the CIS region are interested in its offerings.
Largest Exchange Wants to Increase Contacts in the CIS Region
Olga Goncharova added that in addition to Azerbaijan, the exchange has organized meetings in other former Soviet states, such as Kazakhstan and Kyrgyzstan in Central Asia, and plans to broaden the geographic scope of such exchanges.
Binance pledged to assist Kazakhstan’s government in the “safe development” of the nation’s cryptocurrency market in early October and consented to work with its financial regulators.