🎉 Kazakhstan 🇰🇿: Central Bank plans to launch a national crypto exchange

🎉 Kazakhstan 🇰🇿: Central Bank plans to launch a national crypto exchange

The initiative will be included in the “Banking Law,” set to be approved in August this year.

💫 A single national hub for digital asset trading is planned, aiming to legalize crypto operations and bring them out of the shadow economy.

💫 The new crypto exchange will replace all unregulated foreign platforms and will be integrated with the Astana International Financial Centre (AIFC).

💫 To speed things up, existing structures like the Central Securities Depository and Kazakhstan Stock Exchange (KASE) will be used.

💫 The National Bank is also considering issuing a digital asset backed by the digital tenge, a stablecoin referred to as “Crypto-CT.”

💫 In the initial phase, citizens will be able to purchase cryptocurrencies only within certain limits, to protect inexperienced investors.

💡 The use of digital assets as a means of payment remains prohibited.

A state-backed crypto bank has also recently been proposed.

#news #central_asia #crypto

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