Kazakhstan plans to tighten regulation of cryptocurrencies
Date: 2025-01-30 Author: Henry Casey Categories: IN WORLD
The President of Kazakhstan announced the need for urgent development of cryptocurrency infrastructure and the adoption of legislative measures that will allow digital assets to legally circulate in the country. At a government meeting, he emphasized that most transactions with cryptocurrencies - about 95% - take place outside the legal field, which harms the economy.
Currently, the only legal way to trade digital assets in Kazakhstan are crypto exchanges licensed by the Astana International Financial Center. However, this mechanism covers only a small part of market participants, while a significant number of investors continue to use unofficial channels for cryptocurrency transactions.
To solve this problem, the President instructed financial regulators to develop a new legislative framework that will ensure legalization and simplified access to digital assets through official platforms. He noted that the expansion of a transparent cryptocurrency market will help attract more investors and will have a positive impact on the country's economic development.
Kassym-Jomart Tokayev also stressed that regulation of the cryptocurrency sector should become a priority for the government. He called for accelerating work on the legal framework for digital assets, as their integration into the economy could become an important factor in attracting new investments, including from international cryptocurrency companies.
