Kazakhstan tightens the regulation of cryptocurrencies

The national Bank of Kazakhstan has demonstrated a very conservative look at the regulation of cryptocurrencies and intends to apply a rather rigid restrictions in this sector.

Under the ban can be buying and selling of crypto-currencies for tenge, the operation of the cryptocurrency exchanges, and any kind of cryptocurrency mining, said the head of the national Bank of Kazakhstan Daniyar Akishev told RIA Novosti.

Cryptocurrency assets are a source of huge amount of various problems, the most important of which, in his view, is to protect the rights of consumers:

«Our goal is to minimize and, at least, treatment of these risks in the national currency», — he said.

Another threat from the side of cryptocurrencies, in his opinion, lies in their widespread use for abusive purposes:

«This is the perfect tool for tax evasion and money laundering,» explains Akishev.

Most of the state bodies of Kazakhstan support the tough policy of the Central Bank in relation to cryptocurrency regulation. According to management, the Central Bank prepared a number of amendments to the legislation which will be addressed in the near future.

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