Kazakhstan plans to ban mining and any other crypto-currency activities

Cryptocurrency has a lot of problems.

31.Mar.18 9:52 PM
By Natalia Mylnikova
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Kazakhstan plans to ban mining and any other crypto-currency activities

Last week, a statement was made by the head of the National Bank of Kazakhstan that the regulator plans to prohibit mining activities, as well as purchase and sale transactions for the national currency. Also, any action of crypto-instruments will also be banned.

According to the head of the National Bank, crypto-currency transactions carry a relatively large number of problems. First of all, the regulator cannot protect consumers of these services. The second real threat to the country from crypto-currency activities is illegal financial transactions. Money laundering, as well as tax evasion, will become real threats to Kazakhstan's financial stability.

It should be noted that such an absolute position of the regulator is supported by all state bodies of the country. Corresponding amendments to the legislative base have already been prepared.

This position of the National Bank was sudden because in October of last year it was announced that the country could issue its crypto currency, whose issue will be provided with real money.

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