The Potential Digital Asset Industry Grows In Central Asia Although Literacy Risks Are Still Integrated

Illustration (Photo: Doc. Antara)

JAKARTA - Binance and the National Bank of Kazakhstan agree that the digital asset industry is a necessity that will continue to develop globally.

Director of GR Binance Olga Goncharova said the provision of good financial infrastructure would meet consumer demand for more inclusive, cost-effective, convenient, and fast services.

"Through cooperation with industry representatives and regulatory agencies, we must be able to formulate a roadmap that focuses on a flexible framework," he said in a written statement quoted on Wednesday, February 15.

According to Olga, the concept must be supported by the implementation of a professional business model in order to create a maintained market continuity.

"To quickly fulfill technological advances, it is necessary to pay attention to transparency, governance, and accountability," he said.

Similarly, Binance CEO and Co-Founder Changpeng Zhao said the Central Asian region, especially Kazakhstan, has great potential to become a crypto center in the region.

"We hope this can help bridge the gap between traditional banking and the current crypto ecosystem," he said.

Meanwhile, Head of the Center for Payment and Financial Technology Development at the National Bank of Kazakhstan, Binur Zhalenov, stated that his party believes blockchain technology is an exciting new market.

"We are trying to create a healthy and balanced regulatory environment for cryptocurrencies and digital assets that ensure their innovative potential," he said.

Binur added that cross-sectoral synergies are expected to provide a useful framework and stimulate collaborative work in blockchains and other financial instruments.

"We want to protect consumer rights and maintain overall macro financial stability," he stressed.

For information, this release is also a joint report that emphasizes the important meaning of financial and digital literacy to reduce risks.

This includes the need to develop the expertise of regulatory bodies and law enforcement agencies to build relevant capacities for the design of further regulations and surveillance.