The National Bank of Kazakhstan very conservatively approaches the issue of regulating crypto-currency and intends to prohibit their purchase and sale for tenge, the activity of exchanges in this segment, as well as any kinds of mining, said in an interview with RIA Novosti the head of the National Bank Daniyar Akishev.

“In Kazakhstan, the National Bank is very conservative about this issue, I welcome only rather restrictive restrictions, that is, we want to prohibit the purchase and sale of crypto-currency for the national currency, we want to prohibit the activities of exchanges on this segment and any kinds of mining,” Akishev said.

Minimize the risks

According to him, cryptocurrencies bear a lot of problems, the main of which is the protection of consumers’ rights of these services.

“We minimize the risks associated with the national market, but for sure, not one Central Bank has full functionality to administer this market in a cross-border market, so at the very least, we must stop this risk through the national currency”

he said.

According to him, the tough position of the Central Bank in respect of cryptocurrencies is supported by the majority of state bodies of Kazakhstan. “We have prepared amendments to the legislation that should lead to this tightening,” he said.

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