Kazakhstan will legalize cryptocurrency online exchanges

12.05.2021 |

To date, the cryptocurrency sector in Kazakhstan is poorly represented. Although the country is firmly in fourth place in the world in terms of mining capacity, the sale, exchange and other operations with digital assets are not well developed. To overcome these shortcomings, the government, together with an initiative group of businesses and experts, has developed a roadmap for the development of blockchain and cryptocurrency technologies.

As part of the planned activities, legal regulation of online cryptocurrency exchanges will be introduced. The pilot project will be launched on the basis of Astana International Financial Center, and it is planned to work out not only innovations in finance, but also interaction with classical banks and principles of legal regulation of the new direction of the economy.

After all approvals, the direction of development will be approved in the government of Kazakhstan, the chairman of which is sure that of all the variety of companies existing in the country, it is the cryptocurrency sphere is underdeveloped, which does not allow to take its proper place in the world of innovation.