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Tengrinews.kz - President Kassym-Jomart Tokayev announced the need to expand the range of cryptocurrency circulation in Kazakhstan.
To do this, according to him, it is necessary to create the necessary legislative framework.
"The planning and execution of the state budget largely depend on the effectiveness of measures to control inflation processes. The National Bank and the government will have to make bold, extraordinary, but verified decisions. In the context of a rapidly changing global economic environment, the time when it was possible to act according to a template has already passed. Therefore, the measures taken must correspond to new serious challenges," the President said at an extended meeting of the government.
The Head of State recalled that in his Address he spoke about the need to change approaches to the circulation of digital assets.
"In our country, such assets can only legally circulate on the basis of AIFC crypto exchanges. At the same time, according to experts, only 5 percent of Kazakhstani crypto investors use the center's platform, the rest work in the so-called ‘gray zone.’ It is urgent to create an infrastructure for wider legal circulation of digital assets. Financial regulators should work on forming the corresponding legislative framework," Tokayev added.
