Sadyr Zhaparov, President of the Kyrgyz Republic, noted that the National Investment Agency, under his office, has signed a memorandum with Binance founder Changpeng Zhao (CZ).
CZ will soon cooperate in the “development of the cryptocurrency and blockchain technology ecosystem in the Kyrgyz Republic.”
“This includes providing infrastructural, technological support, technical expertise, and consulting services on cryptocurrencies and blockchain technologies, as well as implementing educational initiatives,” the President wrote on X.
CZ agreed to advise Kyrgyzstan on crypto and blockchain related developments in a move to strengthen the nation’s economy.
Zhao wrote on X, “Crypto adoption, one country at a time. Also brought a Head of State to X.” His comments came in response to the President’s announcement.
CZ Begins to Advise Few Governments on Crypto
Zhao said in a separate post on Friday that he has “officially and unofficially” joined as an advisor to a few governments on their “crypto regulatory frameworks and blockchain solution.”
His advisory would help governments expand blockchain to more than trading, he noted. “I find this work extremely meaningful,” CZ said, adding that he doesn’t get involved in politics or anything else. Just crypto.
The founder and former CEO of Binance pleaded guilty to violating US money laundering laws, last April. Binance was ordered to pay $4.3 billion after a US investigation found it helped users bypass sanctions.
In May 2024, a Seattle court ordered CZ to serve a four-month jail sentence.
Kyrgyzstan Prez Aims to Generate New Opportunities for Crypto Businesses
President Zhaparov noted that CZ’s advisory marks an important step in strengthening the nation’s technological infrastructure. the cooperation helps in “implementing innovative solutions, and preparing highly qualified specialists in blockchain technologies, virtual asset management, and cybersecurity,” he added.
“In light of the rapid global evolution of digital technologies, such initiatives are crucial for the sustainable growth of the economy and the security of virtual assets, ultimately generating new opportunities for businesses and society as a whole.”
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