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Cryptocurrency regulations in Kazakhstan

Contents

1 Cryptocurrency regulations in Kazakhstan
2 Governments’s attitude towards STO
3 Government’s concern of STO
4 Reference

1 Cryptocurrency regulations in Kazakhstan

Currently, there is no law on cryptocurrency in Kazakhstan, and it is not banned by law. There is no cryptocurrency exchange in Kazakhstan.
The government held a talk on possible legislative actions on cryptocurrency in July, 2018. But they could not resolve some of the issues of cryptocurrency.
They have not yet clearly defined the terms regarding cryptocurrency.
The central bank of Kazakhstan is opposed to introducing cryptocurrency.
The government founded AIFC(Astana International Financial Centre), and institution that conducts research and development of cryptocurrency and introduce it to the country. AFIC directly reports to the President. There are two opposing institutions in Kazakhstan, AFIC and the central bank.

2 Government’s attitude towards STO

・The government thinks that there is a high probability that investors will shift to STO when the ICO boom is over.
・The economy relies on natural resources. Kazakhstani government is investing in cryptocurrency research to lessen its reliance on natural resources.

3 Government’s concern of STO

・Kazakhstan is a one-party dictatorship, and the government acknowledges that government regulation on STO will not be effective. Political corruption might also be an issue in introducing STO.
・All media is controlled by the government, so finding information on cryptocurrency and STO is challenging.

4 Reference

Перспективы блокчейн технологии в Казахстане
Перспективы законодательного внедрения криптовалюты в Казахстане с учетом опыта зарубежных стран
НА ГЛАВНОМ БЛОКЧЕЙН-СОБЫТИИ ЦЕНТРАЛЬНОЙ АЗИИ ОПРЕДЕЛИЛИ НОВЫЕ ПУТИ РАЗВИТИЯ БЛОКЧЕЙН И КРИПТОВАЛЮТ В КАЗАХСТАНЕ

カザフスタンにおける暗号通貨の規制動向