Kazakhstan is Exploring the Legalization of Cryptocurrency Transactions

The Kazakh authorities have allowed crypto exchanges within the special economic zone to open bank accounts. As a result, the government has taken another step towards legalization of the digital assets market.

Kazakhstan is now preparing to allow the conversion of cryptocurrencies into fiat money. The first such transaction was implemented with the participation of Eurasian Bank and cryptocurrency exchange Intebix.

According to the president of Kazakhstan, Kasim-Yomart Tokaev, with high demand authorities are ready to speed up legalization of crypto transactions. The country seeks to become a leader in financial technology, and the development of a regulatory framework will create the conditions for the accelerated digitalization of the payment infrastructure.