Kazakhstan National Bank Addressed That Bitcoin and Crypto Market Won’t Be Ignored

Vignesh Karunanidhi
Kazakhstan National Bank Addressed That Bitcoin and Crypto Market Wont Be Ignored
Source: Coincu News

Bitcoin and the crypto market, in general, are catching up with the wind of adoption as it is flying and paving the way to different governments and nations. Several nations are pumping up the guts to stand with the technology and make cryptocurrency available to the commoner.

Kazakhstan recently inked a memorandum of understanding [MOU] with Binance, a popular cryptocurrency exchange. The partnership will assist the country in developing and implementing legislation governing Bitcoin and other digital assets.

Source: Caspian News

Kazakhstan central bank will explore the possibility that crypto offers

Kazakhstan is slowly heading into the crypto realm as the government is also dealing with a high volume of crypto mining. With the recent crypto mining issues in China and New York, a lot of miners seem to have planned to move to different areas of the globe in search of friendlier regulations.

With mining behemoths such as BTC.com and Canaan calling Kazakhstan their hub, the authorities appeared to be attempting to gain a deeper understanding of the business.

Source: MoonCatcherMeme

The central bank of Kazakhstan is also exploring ways to cash in on the different opportunities that crypto can offer.

We are interested in the opportunities for innovation that these new technologies give us. Therefore, we will conduct these discussions so that our decisions do not negatively affect macro-stability and the interests of consumers of financial services. Taking this into account, based on the results of discussions we will make a decision.”

Chairman of the National Bank Galymzhan Pirmatov

He said the government would have a simple and straight approach toward crypto and that it would not ignore the market. He also added that the national bank employees are also working in a positive direction and that an announcement regarding crypto will be provided later on.

“Now it’s too early to talk about legalizing cryptocurrency. We will have discussions with the market.”