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Tokyo based leading crypto currency exchange will spend up to $10m on university level training for Bermudians in blockchain development and an additional $5m in investments in Bermuda based blockchain companies through Binance Labs.
The Bermuda government reportedly plans to develop a friendly legal framework for virtual currencies and blockchain. Zhao said that research conducted by Binance shows that Bermuda has “one of the leading regulatory bodies” for virtual currency: “We think the Bermuda Government and regulatory body are one of the most approachable, most reasonable and most forward-thinking bodies on the planet.” According to Zhao, the exchange has already started working with local solicitors in order to ensure that the new office will be compliant with the law.
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