Kazakhstan Greenlights Crypto Regulation and Mining Bills

The lower house of Kazakhstan’s parliament yesterday approved in the first reading five bills regulating the issuance and circulation of cryptocurrencies in the country.

The deputies had prepared an industry bill on digital assets of the Republic of Kazakhstan and four related regulations.

According to the documents, all trading operations with cryptocurrency are supposed to be carried out on the basis of the Astana International Financial Center in order to avoid risks for the financial system.

Ekaterina Smyshlyaeva, member of the Committee on Economic Reform and Regional Development of the lower house of Kazakhstan’s parliament, has said:

“Cryptocurrency in Kazakhstan is not a means of payment, and its circulation is prohibited in the country. A new financial institution is developing in the ecosystem being created — Kazakhstani crypto exchanges.”