Kazakhstan to ban cryptocurrencies and mining

Kazakhstan to ban cryptocurrencies and mining

The country's authorities is going to ban cryptocurrencies and mining in order to protect their citizens.

The National Bank of Kazakhstan intends to prohibit cryptocurrency selling and buying for Kazakhstani tenge, cryptoexchanges, and any kinds of mining. This was stated by Daniyar Akishev, the head of Kazakhstan's National Bank. In the interview to RIA.ru he told that the Bank is very conservative about cryptocurrencies, they welcome such severe limitations. He explained such decision by many problems connected to cryptocurrencies, such as illegal activity. He called digital currencies an ideal instrument for money-laundering and tax evasion.

According to him, the main goal of crypto banning is to protect Kazakhstan people from scams and fraud.

"We minimize the risks associated with the national market. However, no central bank has all the instruments to control this market in the cross-border market. Therefore, at least, we must prevent this risk via the national currency," he said.

Shortly before, The Bank of Thailand has prohibited to make all operations with cryptocurrencies, such as selling cryptos, creating platforms for crypto trading and performing exchange transactions.



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