Helius Labs’ CEO calls out Binance's CZ for endorsing and contributing to Kyrgyzstan's CBDC efforts

Mert Mumtaz CEO of Helius Labs is one of those who sees CBDC as a step backward one that puts custody of personal finances in the hands of the ￰0￱ Solana network contributor’s latest disapproval came as a vocal reaction to Changpeng Zhao’s support for a Kyrgyzstan government CBDC ￰1￱ hours ago CZ took to X to reveal what he called “updates from Kyrgyzstan.” In the post

he listed updates such as how the country’s national stablecoin has launched on BNB Chain how the CBDC is ready for rollout and how the national cryptocurrency reserve has been set up with BNB ￰2￱ also expressed pride in bringing Sign a platform that describes itself as the blockchain stack built for sovereign nations

to work with ￰3￱ kicks against the idea of CBDCs In his response to CZ Mert claimed CBDCs are “*entirely* antithetical to what crypto is.” He continued “We are trading sovereignty for surveillance everyone must be united in saying NO to this

crypto without privacy is not crypto.” Then in another tweet he implied that CZ with all his experience and know-how should not be one of those “helping nations” develop CBDCs” and called it “incredible to brag about.” “It is insane to me that the most influential person in crypto is not only promoting this

but making it happen unbelievable CBDCs are entirely dystopian,” Mert’s statement ￰4￱ a number of commenters seemed to agree with Mert’s opinions with a considerable number claiming CZ does not actually care about the industry and will do anything “to pump his bags.” CZ’s progress update comes after his two-day trip to Kyrgyzstan CZ’s ties to Kyrgyzstan have grown since he made his first visit to Kyrgyzstan in May when he was introduced to President Sadyr Japarov

became a member of the inaugural National Council for the Development of Virtual Assets and Blockchain Technologies and signed a memorandum for crypto and blockchain ￰5￱ latest comment about the country came after a second visit which lasted for two days and saw him in another meeting with President Sadyr Japarov

where they discussed opportunities in blockchain technology and digital economy ￰6￱ has spoken positively about the visit on X stating he “had a great time in Kyrgyzstan” over those two ￰7￱ from his informal meeting with the president CZ also joined him on a visit to Ala-Archa National Park an excursion shared by Presidential press secretary Askat Alagozov on ￰8￱ its new legislation

which includes a regulatory sandbox for testing financial solutions and a legal framework for virtual assets stablecoins and mining Kyrgyzstan hopes to advance its digital asset strategy

and CZ seems committed to helping as he has been appointed to the National Council on blockchain development in ￰9￱ former Binance CEO who just received a pardon from Trump has encouraged other crypto companies to explore opportunities in Kyrgyzstan

highlighting the country’s potential for digital innovation and international ￰10￱ up to $30,050 in trading rewards when you join Bybit today