24/7 Cryptocurrency News

Binance Kazakhstan Manager Bags Ministerial Appointment

Published by

In a recent development in the crypto space, Zhaslan Madiev, the General Manager of the Kazakhstan division of the Binance crypto exchange has been appointed as the Minister of Digital Development in the country. This update was announced by Binance’s CEO, Richard Teng in a post on social media platform X.

Advertisement

Implications for Binance in Kazakhstan

This news has been generating a massive reaction from the community with notes on what it means for Binance.

“We have every confidence that Zhaslan’s passion and expertise will drive forward crucial digital development initiatives in Kazakhstan,” says Teng in his post.

Madiev’s appointment as a Minister in Kazakhstan comes at a crucial time for Binance, considering recent legal challenges that have caused setbacks for the firm. Recently, Changpeng ‘CZ’ Zhao, the former CEO and founder of Binance was sentenced to four months in prison pleading guilty to money laundering charges in the United States.

The US Department of Justice (DOJ) fined the trading platform $4.3 billion, which led to him resigning as CEO. At the time, so many investors lost confidence in the market, resulting in price drops for major cryptocurrencies. However, with Madiev now appointed as a Minister in Kazakhstan, Binance sets its foot as a leading player in the crypto landscape.

Madiev’s appointment could also enhance clearer crypto regulation in Kazakhstan. Thus, this may create a favorable environment for crypto to thrive in the country. Recall that the government blocked several crypto exchanges including Coinbase last year, citing violations of local laws.

Advertisement

Crypto Expansion in Kazakhstan

The adoption of crypto can stimulate growth in any given country through innovation, job creation, and by attracting investment. For Kazakhstan, Madiev can, through his appointment as a Minister lead initiatives to harness these opportunities and drive economic development in the country.

As part of its crypto development, Kazakhstan introduced the ‘digital tenge’ into the country’s retail market in November. This innovation promises to streamline transactions and improve the economy. The digital currency seeks to integrate with major payments platforms such as Apple Pay and Samsung Pay. This ensures users can easily interact with the digital tenge globally, thus, improving its utility and appeal.

Furthermore, Kazakhstan partnered with major financial corporations like Visa, Mastercard, and local banks. With these developments, Kazakhstan positions itself as a jurisdiction of province.

 

 

Advertisement

Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by

Recent Posts

  • 24/7 Cryptocurrency News

Bank of America, Citigroup and Goldman Sachs Explore Issuing Stablecoins Pegged to G7 Currencies

A group of major world banks is working on a new stablecoin tied to G7…

October 10, 2025
  • Bitcoin News

Breaking: Bitcoin Falls After Trump Threatens ‘Massive’ Increase in Tariffs on China

U.S. President Donald Trump sparked panic in the crypto market after threatening to massively increase…

October 10, 2025
  • Bitcoin News

Breaking: $8 Trillion Morgan Stanley Opens Bitcoin Investments to All Wealth Clients

Morgan Stanley, which manages $8 trillion in assets under management (AuM), plans to allow all…

October 10, 2025
  • 24/7 Cryptocurrency News

Bitget Strengthens On-Chain Rewards Push With Early Hunter Airdrop Launch

Bitget has launched the fourth phase of its Early Hunter Airdrop, featuring BinanceLife (币安人生) and…

October 10, 2025
  • 24/7 Cryptocurrency News

Fed’s Chris Waller Reiterates Support for Rate Cuts but Urges Caution On Pace

Fed Governor Chris Waller has again expressed support for additional Fed rate cuts. However, he…

October 10, 2025
  • Ethereum News

Tom Lee’s Bitmine Immersion (BMNR) Adds Another $103M ETH to its Ethereum Stash

Bitmine Immersion, the largest Ethereum treasury company, quietly added another 23,823 ETH to its total…

October 10, 2025