Nearly a thousand cryptocurrency exchanges that were servicing Kazakh residents without the necessary authorization were blocked in 2023 by the country’s Financial Monitoring Agency (FMA). In 2023, the FMA blocked access to 980 illicit platforms, according to a news release issued on the government website on December 7. As for
Bybit, a prominent cryptocurrency exchange, has achieved a significant milestone in its global expansion strategy by receiving preliminary approval from regulatory authorities in Kazakhstan. Moreover, this approval positions Bybit as a trusted cryptocurrency custody service provider, further bolstering the acceptance and adoption of cryptocurrencies within Central Asia. Kazakhstan has emerged
Local media outlets indicate that in 2022 after a new rule was passed to regulate the financial burden of cryptocurrency mining, the government of Kazakhstan collected 3.07 billion tenge (about $7 million) in tax payments from crypto mining businesses. As of April 27th, 2023, the government has earned 240 million
One of the largest Bitcoin mining places in the world, Kazakhstan, has revealed intentions to impose new crypto legislation. In an effort to curb tax evasion and unsavory business practices. Kazakhstan President Kassym-Jomart Tokayev reaffirmed the country’s position on February 6. By signing new legislation prohibiting the illegal mining of
According to a report released by the National Bank of Kazakhstan (NBK) and Binance on February 3, the NBK has begun testing a digital tenge pilot project. Central Asia and the Commonwealth of Independent States were the focus of this research as it examined worldwide approaches to digital asset legislation,
A law to establish guidelines for the use of cryptocurrencies and other similar activities in Kazakhstan has been approved by the upper house of parliament in the country. Local media have claimed that the new legislation “On Digital Assets in the Republic of Kazakhstan” together with other legislative papers pave
Binance, the world’s leading cryptocurrency exchange to launch a comprehensive blockchain education program across Kazakhstan. According to the recent announcement from the exchange, the platform has partnered with leading state organizations in Kazakhstan to provide blockchain education to 40,000 individuals by 2026. Gleb Kostarev, Asia Regional Head at Binance stated:
Officials at Kazakhstan’s central bank, the National Bank of Kazakhstan (NBK), say they’ve finished phase two of testing the infrastructure supporting the country’s central bank digital currency (CBDC). The whitepaper produced by the regulator. Presents trial findings and research on the necessity for a new form of national fiat, the
As NKB said before, the Digital Tenge will be released in late 2022. CZ said that the NKB recently conducted a CBDC “pilot in a controlled environment.” Kazakhstan seems to be quite receptive to the cryptocurrency market. Binance recently received permission to legally do business there. Also, CEO Changpeng Zhao
The measure was presented in the lower house of Kazakhstan’s parliament. With the new license system comes a new taxation mechanism for crypto miners. One of the most popular places for cryptocurrency miners to set up shop is Kazakhstan, which is why the government there is considering making mining licenses
