Kazakhstan's Central Bank Will Not Ignore the Cryptocurrency Market, Says Chairman

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The National Bank of Kazakhstan sees potential in the cryptocurrency market and will not turn its back on it, Chairman Pirmatov asserted.

Galymzhan Pirmatov – Chairman of the National Bank of Kazakhstan – said the financial institution is intrigued by the cryptocurrency industry. As such, it has no plans to ignore it but rather study its potential, he asserted., Pirmatov stated that Kazakhstan’s central bank carefully observes the digital asset and decentralized finance sectors.

Pirmatov went further, outlining that the National Bank of Kazakhstan is not “going to ignore this market.” The employees of the organization are already aware of that approach and “are very actively working in this direction.” local banks to offer digital asset exposure to clients. The service will be available until the end of July as the authorities will decide whether to extend it.

 

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Crypto miners in Kazakhstan are required to obtain state authorization (similar to a license), and will be taxed progressively by increasing profit rate.

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