Source: Cointelegraph Original: "{title}"
After signing a memorandum of understanding with the foreign investment agency of Kyrgyzstan, former Binance CEO Changpeng Zhao (CZ) will begin advising the Kyrgyz Republic on blockchain and cryptocurrency-related regulations and technologies.
The crypto entrepreneur stated in an article on April 3: "I officially and informally advise some governments on crypto regulatory frameworks and blockchain solutions to enhance government efficiency and extend blockchain beyond transactions." He added that he finds this work "very meaningful."
His comments were in response to a post earlier by Kyrgyz President Sadyr Zhaparov on X, which announced that the Kyrgyz National Investment Agency (NIA) had signed a memorandum with CZ to provide technical expertise and consulting services for the Central Asian country.
The NIA is responsible for promoting foreign investment and assisting international companies in finding business opportunities in the country.
Zhaparov said, "This cooperation marks an important step towards strengthening technological infrastructure, implementing innovative solutions, and cultivating high-quality experts in blockchain technology, virtual asset management, and cybersecurity."
The Kyrgyz President added, "These initiatives are crucial for the sustainable growth of the economy and the security of virtual assets, ultimately creating new opportunities for businesses and society as a whole."
Kyrgyzstan officially renamed itself the Kyrgyz Republic in 1993 and is a mountainous landlocked country.
Due to its abundant renewable energy resources, most of which are underutilized, it is considered highly suitable for cryptocurrency mining operations.
According to a report by the International Energy Agency, over 30% of Kyrgyzstan's energy supply comes from hydropower plants, but only 10% of the country's potential hydropower has been developed.
Changpeng Zhao also met with officials from several other Asian countries.
Malaysia recently invited CZ to provide guidance on cryptocurrency-related matters, with Prime Minister Anwar Ibrahim meeting him in person in January.
CZ also met with officials from the UAE and Bhutan, a Bitcoin reserve country, but the details of these meetings remain unclear.
Over six months ago, he was sentenced to four months in prison in the U.S. for violating several anti-money laundering laws.
Since his release, CZ has invested in blockchain technology, artificial intelligence, and biotechnology companies.
Following natural disasters in late April, CZ recently donated 1,000 Binance Coins (BNB), worth nearly $600,000, to support earthquake relief efforts in Thailand and Myanmar.
Related: Cryptocurrency donations surpass $1 billion in 2024, gaining attention after earthquakes in Myanmar and Thailand.
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