😱 Kazakhstan🇰🇿: tighter controls on crypto transfers and betting

😱 Kazakhstan🇰🇿: tighter controls on crypto transfers and betting

This concerns a joint resolution by the National Bank and the Agency for Regulation and Development of the Financial Market, which provides for stricter measures across various areas of finance. However, it appears that no one intends to ban peer-to-peer cryptocurrency transfers (#P2P).

😀 Banks will begin automatically detecting suspicious transactions linked to illegal cryptocurrency exchanges, online casinos, and betting operators.

😀 Separate restrictions will apply to insurance companies. They will be prohibited from insuring cryptocurrency-related risks if the law does not classify cryptocurrencies as financial instruments. In addition, they will not be allowed to be traded on the organized securities market.

😀 Citizens who, over the past six months, have made at least 6 payments to casinos or betting platforms, totaling more than 300,000 tenge (USD 665), will face restrictions on access to credit. Stricter requirements will apply to customers who have previously been more than 90 days late on loan repayments. For these customers, the permitted debt burden will be cut in half.

#news #gambling #neighboringcountries #crypto

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