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.