News
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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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.
- News
Amid growing regulatory uncertainty in the West, several crypto platforms have shifted their focus toward the Asia–Pacific region.
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The cryptocurrency exchange received “in-principle” approval to operate in Kazakhstan at the Astana International Financial Centre.
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Crypto miners paid millions of dollars in energy fees last year following the regulation of mining activities.
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A new law signed by Kazakh President Kassym-Jomart Tokayev on Feb. 6 reinstated the nation’s stand against the unlawful mining operations and issuance of crypto assets.
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The Central Asian country’s CBDC project is right on time, according to a 2020 roadmap, as consumers and merchants use the currency in a controlled environment.
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The Astana Financial Services Authority, a Kazakh regulator, pointed out that the existing framework dates back to 2018 while proposing certain enhancements.
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Kazakhstan’s central bank recommended making the in-house CBDC available as early as 2023 with a phased expansion of functionality and introduction into commercial operation until the end of 2025.
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Officials in Kazakhstan continue their close relationship with Binance, as the National Bank plans to integrate its CBDC on the BNB Chain.
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The top three countries contributing to the Bitcoin hash rate continue to eat away the share of other players, such as Malaysia, Germany and Iran.
6084 - Follow up
Non-sanctioned foreigners are “more than welcome” at Intebix, but they need to set up a local bank card for crypto-to-fiat transactions, the CEO said.
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The AIFC Financial Services Authority in Kazakhstan granted Binance a permanent license to manage a digital asset platform and provide custody services in the country.
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Binance claimed that its compliance infrastructure is among the best in the world and has helped them to obtain regulatory approval even in countries where they were deemed illegal until last year.
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A major bank in Kazakhstan has completed its first purchase of crypto for fiat and the president is ready to approve exchange activities.
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The major crypto exchange has secured regulatory approval in 2022 to operate as a digital asset service provider in France, Bahrain, Spain and Dubai.
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