Kazakhstan proposes national crypto bank to control digital assets

ASTANA, Kazakhstan, March 26. Member of the
Majilis (Lower House of Parliament) of Kazakhstan, Azat Peruashev,
has initiated a proposal to establish a national cryptocurrency
bank in the country, Trend reports.
In his opinion, the creation of such a financial institution
would help reduce the shadow market for cryptocurrencies and
increase tax revenues to the state budget. Peruashev pointed out
that in recent years, cryptocurrency has become an integral part of
the global financial system, and more and more Kazakhstanis are
becoming interested in digital currencies, viewing them as an
investment tool.
"An effective regulatory instrument for the industry could be
the creation of a crypto bank, an institution that would take on
the functions of monitoring, exchanging, and storing digital assets
within the legal framework," underscored Peruashev.
The establishment of a cryptocurrency bank in Kazakhstan would
protect citizens from fraudsters and ensure government control over
the circulation of cryptocurrencies. Currently, the proposal is
under discussion, and its potential impact on the country's economy
and financial system is yet to be assessed.
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