National crypto exchanger may appear in Kazakhstan
Date: 2025-04-21 Author: Henry Casey Categories: IN WORLD
The Chairman of the National Bank of Kazakhstan announced the possibility of launching its own cryptocurrency exchanger in the country. According to him, at present, Kazakhstanis are forced to resort to the services of illegal services or foreign platforms, which creates risks both for the citizens themselves and for the financial system as a whole. The new exchanger will help legalize transactions with digital assets and ensure that they are carried out in accordance with established norms and limits.
The creation of a national exchanger, according to the regulator, will increase the level of investor protection from potential threats associated with investments in high-risk instruments. In addition, the state will be able to more effectively control the turnover of cryptocurrencies and prevent their use for illegal purposes.
The head of the National Bank noted that when expanding the scope of circulation of digital assets, a balanced approach is needed that will take into account both the potential economic benefits and the risks inherent in the crypto market. He stressed the importance of developing regulatory mechanisms that will not hinder the development of technologies, but at the same time ensure the safety of market participants.
Despite the initiative to create an exchanger, the country will retain a ban on the use of cryptocurrencies as a means of payment. However, within the framework of the future state cryptocurrency ecosystem, the possibility of issuing a large-scale digital asset backed by the national currency is being considered. This could be the next step towards deeper integration of digital solutions into the financial infrastructure of Kazakhstan.
The specific legislative changes necessary for the implementation of these initiatives are expected to be presented in August 2025. The authorities plan to carefully work out the legal framework to ensure the transparency and effectiveness of the new mechanisms.
It is worth recalling that earlier, Majilis deputy Azat Peruashev proposed creating a national cryptobank. His initiative was also aimed at strengthening the role of the state in managing the cryptocurrency sector and ensuring the security of citizens' digital assets.
