February 27, 2024

Kazakhstan President approves new regulation of crypto industry

06/26/2020

Karolina Salinger

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Kazakhstan President approves new regulation of crypto industry

President of Kazakhstan Kassym-Zhomart Tokayev signedthe bill “On Amendments and Additions to Some Legislative Acts of the Republic of Kazakhstan on the Regulation of Digital Technologies”, is reported on the website of the head of state. Among other things, the law regulates the field of cryptocurrencies.

Minister of Digital Development, Innovation andthe country's aerospace industry Askar Zhumagaliyev said that the necessary by-laws will be approved within a few months, after which the new standards will enter into force.

Recall, according to the bill, digital assets are recognized as property, and the release and circulation of bitcoin on the territory of Kazakhstan is prohibited "except as provided by law."

You can read more about the bill in ForkLog.