The Central Bank of Kazakhstan wants to ban cryptocurrencies

The Central Bank of Kazakhstan wants to ban cryptocurrencies

The national Bank of Kazakhstan wants to ban cryptocurrency trading and mining.

As reported by Russian news outlet Sputnik, Daniyar Akishev, head of the national Bank of Kazakhstan, said that the Central Bank intends to take a very conservative approach and strict regulation in relation to cryptocurrencies.

That is why the national Bank seeks to ban all cryptocurrency transactions and to prevent the citizens to exchange Fiat currency for cryptocurrency.

In addition, the national Bank also considers it necessary to ban mining in the country:

We minimize the risks associated with the national market. None of the Central banks has no tools to control the cryptocurrency market, as the market is essentially international. So, at least, we must prevent the risks associated with the national currency.

The national Bank believe that cryptocurrencies are “the perfect tool for money laundering and tax evasion”.

Despite all the statements of the head of the national Bank, in Kazakhstan at the moment, there are no provisions, laws and bills to restrict use of cryptocurrency in the country.

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