Report: Kazakhstan’s Central Bank Wants to Ban Cryptocurrencies

The Countrywide Bank of Kazakhstan wishes to ban cryptocurrency trading and mining in the European nation, its chairman said.

Speaking to Sputnik News, Daniyar Akishev said the central bank is “getting [a] pretty conservative solution” towards cryptocurrencies, hunting for “exceptionally rough limits.”

To that finish, he explained to the Russian governing administration information web-site, he wishes to ban all crypto exchanges and stop residents from converting the nation’s fiat forex into any kind of cryptocurrency.

In addition, he said he wishes to ban cryptocurrency mining within Kazakhstan’s borders, telling Sputnik:

“We lessen the hazards associated to the countrywide market place. Nonetheless, no central bank has all the devices to regulate this market place in the cross-border market place. For that reason, at the very least, we need to stop this threat by way of the countrywide forex.”

The bank – and other governing administration agencies – feel that cryptocurrencies are “an great instrument for cash laundering and tax evasion,” he said.

Even with the chairman’s words and phrases, it does not look that there are any regulations, guidelines or expenditures aimed at curbing the use of cryptocurrencies in Kazakhstan at current.

Kazakhstan flag image by way of Shutterstock

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