It refers to exchanges and exchangers that operate on the territory of the country

​Kazakhstan has introduced rules for regulating cryptocurrency services

05.11.2021 - 10:10

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1 min

What's new? Sputnik portal reports on new laws developed in relation to cryptocurrency services operating in Kazakhstan. Since their adoption, all exchanges and exchangers will be subjects of financial monitoring.

News on the Sputnik.kz website

What measures will the Kazakh authorities take? Cryptocurrency exchanges and exchange services will be required to provide full financial statements on all transactions made. In addition, there will be a requirement to notify the Ministry of Digital Development about the start of their operations.

Stricter regulation of the crypto industry in Kazakhstan is intended to reduce the risk of scams and reduce the shadow economy’s share. As previously stated, the President of Kazakhstan Kassym-Jomart Tokayev has instructed those in charge to introduce “urgent” regulation of the mining industry.

Author:

Michael Golikov Michael Golikov

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