Former Binance CEO CZ to Guide Kyrgyz Republic on Cryptocurrency and Blockchain Policies

Changpeng “CZ” Zhao, the former CEO of Binance, has formalized an agreement with the Kyrgyz Republic to provide consulting services on crypto regulations and blockchain innovation. This partnership was disclosed by the nation’s National Investment Agency (NIA), which promotes foreign investments and aids in the growth of international business in Kyrgyzstan.

On April 3, CZ acknowledged the alliance in a post on X, stating he advises several governments on crypto legislation and ideas for using blockchain technology to enhance governmental operations.

Key Points:

Advising on Blockchain Policy is ‘Extremely Meaningful’

CZ regards this initiative as “extremely meaningful”, stressing blockchain’s significance beyond mere trading.
President Sadyr Zhaparov also highlighted the collaboration on social media, viewing it as a crucial advancement in the modernization of the country’s technology infrastructure. He expressed that the alliance would drive blockchain application, enhance management of digital assets, bolster cybersecurity, and train professionals in related areas. “Such endeavors are vital for sustainable economic growth and the security of virtual assets,” remarked Zhaparov.

The Kyrgyz Republic, once referred to as the Republic of Kyrgyzstan, is a mountainous, landlocked nation in Central Asia, recognized for its potential in crypto mining due to its vast and underused renewable energy resources. Hydropower constitutes over 30% of the country’s energy supply, although its development is still in the early stages, according to the International Energy Agency.

This isn’t CZ’s first government collaboration. Earlier this year, he met with Malaysia’s Prime Minister Anwar Ibrahim regarding crypto topics, and he has engaged with officials from the UAE and Bhutan, although details from those discussions remain undisclosed.

Following a prison sentence in the U.S. for violations related to anti-money laundering, CZ has been involved in numerous investments in the blockchain, AI, and biotechnology sectors. Recently, he contributed 1,000 BNB (approximately $600,000) for relief efforts in Thailand and Myanmar following an earthquake.

CZ’s Meme Coin Donation Sparks Unexpected Wave of Crypto Generosity

Last month, CZ donated 150 BNB (around $100,000) to support individuals affected by the LIBRA meme coin collapse, which Argentina’s President Javier Milei had promoted. This campaign was inspired by a college student’s efforts that garnered $50,000 for over 40,000 impacted investors. When CZ revealed his donation wallet on social media, crypto enthusiasts contributed additional funds beyond what he initially committed. Zhao clarified that these excess funds would not be kept by him and will be shared with other victims of meme coin fraud, including those from TST and Broccoli. He has reiterated that this is not a support for meme coins. Meanwhile, President Milei is facing legal scrutiny in Argentina over his involvement in the LIBRA promotion and the subsequent fraud allegations.