The Kazakh government will create a roadmap for developing the cryptocurrency market

The Kazakh government is currently preparing a roadmap to encourage the development of the cryptocurrency industry and blockchain technology in the country.

State agencies have examined proposals to cope with the development of the cryptocurrency industry and reconsidered the state’s approach to regulating cryptocurrency operations.According to an announcement on Tuesday on the Kazakh Prime Minister’s website.

Officials have proposed managing cryptocurrency exchanges through a large national financial center, the Astana International Financial Center.The government also proposed setting standards by which crypto exchanges can interact with local banks and customers.

The Kazakh government will create a roadmap for developing the cryptocurrency market
The Kazakh government will create a roadmap for developing the cryptocurrency market

The new initiative aims to create transparency and organization for the local crypto industry“To date of all companies that are active in the cryptocurrency industry, […] Only mining companies are part of the market in Kazakhstan, “the announcement said.

The Republic of Kazakhstan always takes the cryptocurrency industry and digital assets seriously.Last week, the Central Bank of Kazakhstan released an official report on a possible digital currency from the central bank. The bank said the digital asset is not intended to replace cash or cashless payments. Rather, it would be an alternative option that would allow the national payment system to evolve and reduce dependency on cash.

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