THELOGICALINDIAN - The National Bank of Kazakhstan is advancing a cardinal of options for the use of blockchain technology this year it has emerged
Also read: Russian Prime Minister: DAO’s an ‘Interesting Challenge’ for Lawmakers
Crypto’s ‘Positive Impact’ on Kazakhstan
Speaking to bounded account advertisement Tengrinews afterward a columnist appointment about the plans, Daniyar Akishev, arch of the banking regulator, stated accurate advice would acceptable be accessible “closer to autumn.” He said:
In March, ex-head of the Civic Bank Gregory Marchenko suggested that cryptocurrency “would accept a absolute appulse on the budgetary action of the country” in deathwatch of the aciculate abatement in amount of its civic currency, the Tenge, and associated abridgement of broker and customer confidence.
Akishev declared this anniversary that the National Bank has set up a “work group,” which is “studying” the appulse of cryptocurrency and associated companies alive with “money substitutes” on the banking markets.
“This is the absoluteness which we will face in the abreast future, and to avoid it is impossible,” he said. “…Accordingly, any adjustments of our affairs for the development of the banking area may additionally be based on these findings.”
Race to Regulate
Akishev additionally acclaimed that a bill is currently activity through the Kazakh assembly accompanying to “payments and acquittal systems.” The bill is designed, he explained, to acquiesce the regulator “leverage to adviser the bearings and if all-important to adapt this area as bound as possible.”
“We accept dozens of areas in which payments action which do not currently abatement beneath the authoritative capacities of the National Bank, appropriately the acumen we are alive on this project,” he added.
The acutely regulation-heavy attitude of the National Bank may arise to be a familiar story, yet it is ambiguous what anatomy any adjustment of Bitcoin itself will booty in the absence of accurate allegation or statements from any party.
In contrast, adjoining Russia is currently apprehension the allegation of its own assignment group accompanying to the accessible addition of the country’s own cryptocurrency and blockchain technology.
Deputy Director of the Federal Monitoring Service, Pavel Livadny, has already said any Russian civic crypto would be deeply regulated, and that there would acceptable be “financial institutions, which will be entrusted with the discharge cryptocurrency.”
It additionally appears that Bitcoin, in the accident of the actualization of this civic currency, would be formally banned outright throughout the country.
What do you anticipate about Kazakhstan’s access to cryptocurrency regulation? Let us apperceive in the comments below.
Images address of undp.org, matritca.kz, ortcom.kz
