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Binance Founder CZ Aids Kyrgyzstan in Launching Web3 and Stablecoin Initiatives

  • Binance co-founder Changpeng Zhao (CZ) has signed an MOU with Kyrgyzstan's National Investment Agency to provide advisory services on blockchain and cryptocurrency regulations.
  • The collaboration aims to enhance the country's technological infrastructure and develop their A7A5 stablecoin, pegged to the Russian ruble.
  • Kyrgyzstan, known for its abundant renewable energy resources, is seen as an attractive destination for crypto mining.
  • In addition, the country has approved a draft law establishing the legal framework for their central bank digital currency (CBDC), the digital som.

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