News
Kazakhstan’s digital minister says lifting crypto restrictions and expanding regulations could turn the country into Central Asia’s top blockchain hub.
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Kazakhstan News
The Republic of Kazakhstan is a central Asian country with a population of around 18 million people and an area of 2.7 million square kilometers, making it the ninth largest country in the world. Kazakhstan is a dominant economy of central Asia, with the largest GDP and strong rates of growth due to great reserves of oil, minerals and metals. Kazakhstan is also performing well in car manufacturing and agriculture. Kazakhstan is a blockchain-welcoming country. Kazakh authorities were one of the first to announce plans of blockchain adoption in such fields as taxation, customs and cargo tracking. However, the central bank of Kazakhstan is skeptical toward Bitcoin. Even though there are a lot of possible benefits for selling Kazakhstan’s electricity to Bitcoin miners, the central bank of Kazakhstan sees Bitcoin as a money-laundering tool and a way of avoiding tax, so it is currently intending to prohibit the purchase, sell and mining of crypto.
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Kazakhstan shut down 36 illegal crypto exchanges in 2024, seizing $112 million in assets and advancing Anti-Money Laundering efforts alongside its upcoming digital tenge launch.
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The former crypto executive was previously arrested in Poland in 2021 over related matters but was released after 40 days.
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The National Bank's latest project again shows the advantages of programmable central bank digital currency.
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Telegram’s agreement to set up an office in Kazakhstan aligns with the firm’s increasing compliance efforts as its CEO remains in France amid an ongoing investigation.
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The crypto exchanges have received the consent of the AFSA regulator to be the first fully licensed Digital Asset Trading Facilities in Kazakhstan.
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The second phase of the Kazakhstan central bank digital currency pilot focused on controlling its many potential uses.
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The approval of Toncoin marks the 107th digital asset approved by the government regulator, as TON joins AVAX, MATIC, ADA and others.
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The digital tenge has been used for everything from free school lunches to tokenizing gold, and there’s more to come.
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A Seattle district court ruled out CZ’s departure to the UAE, and the Montenegrin justice minister plans to grant the United States request for Do Kwon’s extradition.
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The Financial Monitoring Agency has also launched nine investigations into “illegal exchange operations” and money laundering.
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The chairman of the National Payment Corporation unveiled the plastic card, tied to the CBDC account.
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The authorities cited the Law on Digital Assets, enacted in February 2023, that forbids the issuance and trading of digital currencies and crypto exchange operations without a national license, according to reports.
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Eight major cryptocurrency mining operators signed an open letter to the President of Kazakhstan, Kassym-Jomart Tokayev.
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The National Payment Corporation will be responsible for the development of “digital financial infrastructure,” including the implementation of the digital tenge.
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